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Umbrella (Employed) Pensions

Umbrella contractor pensions

In the UK, employers are legally required to enrol their employees into a pension scheme, and as a fully-compliant umbrella company, we ensure that the correct procedure is followed.

Should you not wish to be enrolled, the legislation does allow you to opt out of the contractor pensions scheme. To do this, you must contact the pension provider rather than your employer to arrange this.

In our case, our contractor pensions provider is Nest who can be contacted via www.nestpensions.org.uk or via 0300 020 0090. They are open from 8am to 8pm Monday to Sunday and from 10am to 4pm on Bank Holidays.

Contractor Pensions – FAQs

We want you to fully understand your options and what each route will mean for you, and have therefore put together some FAQs below which should help you.

Does this affect me if I’m self-employed?

No, this legislation only applies to our umbrella employees. If you are self-employed and wish to save for retirement then you need to make your own arrangements.

Do I have to be enrolled into the scheme?

No. We are required by law to enrol you after you have worked for us continuously under our umbrella scheme for three months, however you can then opt out of the scheme by contacting the scheme provider, Nest.

Can I change my mind in the future?

Yes. If you change your mind then please contact a member of our Customer Service Team on 01244 500195 and we’ll be happy to help you.

If I wish to come out of the scheme, can I get a refund on contributions that I’ve already made?

If you opt out in the first month then we will be able to refund any deductions taken from your pay. After the first month has passed we will have paid the money over to Nest (the Pensions Provider), and so cannot refund it to you.

You can contact them directly, but the legislation clearly states that this money is only then payable to you on retirement.

Does it matter how much I earn?

Initially, yes. Once you earn more than £192 per week , we are obliged to enrol you and start making contributions.

How much will be paid across for me each week?

The current minimum contribution is 8%. A 5% contribution is made by the employee and 3% by the employer, meaning a total of 8% is paid across.

More information

If you still have any questions at all about contractor pensions, please contact a member of our customer services team on 01244 500195, or request a call back via this website and we’ll call you when it’s best for you.