0800 434 6446, sales@smartwork.com, www.smartwork.com

Private Pension/SIPP Scheme Pension Set-up Form

Please indicate to SmartWork how much of the assignment rate you wish us to allocate. If agreed, SmartWork will create an amended schedule at the revised assignment rate, which will remain in place for the duration of the assignment. The contribution level will be fixed for the period of the current assignment. An admin fee of £25 will apply if the contribution levels are changed mid-assignment. Please note that you cannot sacrifice 100% of the Contract / Assignment Income for a private pension, and the minimum assignment rate is £135 per day.

For example, if your rate is £500 per day and you wish us to allocate £100 per day into your pension, the assignment rate would change from £500 to £400 per day on your schedule.

SmartWork will transfer the Employer contribution to the chosen pension provider by BACS payment around the 10th of each month. Please note that SmartWork will not set up Direct Debit or Standing Orders with the providers. The cost for operating the scheme is £25 p/m, which will be deducted from the amount allocated before transferring the Employer contribution to the chosen pension provider.

Please note that the annual allowance limit for the current tax year is £60,000. This limit includes all your contributions, tax relief, and employer contributions across all your pension arrangements. If you go over this limit, this will result in a tax charge, known as the annual allowance charge. Please note that SmartWork is unable to monitor your allowance on your behalf.

You must check with your pension advisor or financial planner before you decide on the contribution level. We are not regulated by the FCA and, as such, cannot offer financial or retirement planning advice.

SmartWork is not affiliated with any pension provider, so it cannot recommend one over another. Further information can be found at https://www.gov.uk/tax-on-your-private-pension/annual-allowance, or be sure to seek independent advice from a financial advisor should you need it.

Your Details

Email*

First Name*

Last Name*

SmartWork Employee Number

Policy Details

Pension Provider's Name*

SIPP Plan or Policy Number *

Invoice rate*

Pension contribution amount (Employer contribution)*

Revised assignment rate (Invoice rate less Employer contribution)*

Deduction Period*

When would you like the deductions to start? Please note this will be the date of the period worked, not the payment process date.*

Day/Month/Year

Please enter the email address for remittance advice to your provider

SIPP Payment Reference - If your provider has requested you use a specific reference for payments, please note that here.*

Pension Provider's Bank Name*

Pension Provider's Sort Code*

Pension Provider's Account Number*

Pension Provider's FCA Registration Number

Additional Information

Terms and Conditions

I hereby confirm and agree to the following terms regarding my Private Pension/SIPP Scheme arrangement with SmartWork.com Ltd:*

I understand that this pension arrangement will remain in place until the end of my assignment. SmartWork.com Ltd will facilitate the deduction of contributions and payment to my chosen provider, but will not be liable for any loss in growth due to late payment/reporting, misallocation of payments by the provider, or return payments.

I will inform my pension provider of this arrangement, and SmartWork.com Ltd, as my employer, will contribute to my Pension Plan on a Gross Employer’s Contributions basis via electronic bank transfer (not direct debit). I agree to request and forward any necessary documents and/or forms required by my pension provider to facilitate these payments.

I will monitor my Pension Annual Allowance and inform SmartWork.com Ltd of any changes to the deduction amount with at least five working days’ notice. I understand that SmartWork.com Ltd will not be responsible if contributions exceed my Annual Allowance. Additionally, I acknowledge that SmartWork.com Ltd cannot accept any information from or liaise with my financial advisors or fund managers.

If I request SmartWork.com Ltd to pause my contributions, I will inform my pension provider of this and the duration of the pause. I will also notify my pension provider when my employment at SmartWork.com Ltd ends, after which SmartWork.com Ltd will cease payments to my pension account.

I acknowledge the Invoice Rate, the Employer’s Pension Contribution Amount, and the Assignment Rate for my assignment. Finally, I agree to SmartWork.com Ltd deducting an admin fee of £25 per month for this service.

Once your form has been submitted, our team will review it and set up your pension deductions from your requested start date. If your provider requests any additional details or special processes, we will contact you to clarify this.

In the meantime, if you have any questions, please email your business manager, and we'll be happy to help.