Umbrella companies and pension providers

[drob1984]

Try NasaGroup - thats who I'm going with from the new FY. I registered last year, setup SIPP etc all ready for IR35 to come in, however the delays meant I haven't had to use them this year. You pay a £5 weekly charge, but you can quit easily amend what you want put in your pension. I think you can change it on a monthly basis, however contributions are made weekly.

[lucyclarityumbrella]

I have a NEST pension (salary sacrifice) account from July 2018 but I haven't been contributing anything to it.

If you find an umbrella who pays into Nest () they would simply add to your existing pension, as it is simply linked by your NI number.

[Win]

It looks like I will have to use Brookson as umbrella for my next PAYE Contract .
On initial enquiry for the pension contributors, I was told can only use Aegon .. However there is one off charge of 695 and further ongoing charges of .75%

Does that sound reasonable ? Having self managed my SIPP before I would rather just have Brookson transfer monies in pension pot which I can self manage.

[eek]

It looks like I will have to use Brookson as umbrella for my next PAYE Contract .
On initial enquiry for the pension contributors, I was told can only use Aegon .. However there is one off charge of 695 and further ongoing charges of .75%

Does that sound reasonable ? Having self managed my SIPP before I would rather just have Brookson transfer monies in pension pot which I can self manage.

Is the agency paying Brookson's fees because otherwise I would be doing everything I can to move elsewhere.

Because that one off fee is a completely unfair joke as is Brookson's processes.

[northernladuk]

It looks like I will have to use Brookson as umbrella for my next PAYE Contract .
On initial enquiry for the pension contributors, I was told can only use Aegon .. However there is one off charge of 695 and further ongoing charges of .75%

Does that sound reasonable ? Having self managed my SIPP before I would rather just have Brookson transfer monies in pension pot which I can self manage.

Remember this is only for short period of time. If you intend to be there for even up to a year it's not really a biggie. You then just transfer to your existing provider at the end. Even if it's not reasonable it sounds like there is nothing you can do about it is there? I guess the impact depends on whether you are going to lump as much in as possible to reduce the tax or just put a nominal amount to top the pension up.

But what Eeks says.

The brollies have changed their pension offerings massively in the last year with many putting in to your pot where they wouldn't before. If Brookson are running a crap pension offering they should change it soon as it's about all that differentiates the FCSA offerings and will be a key decision point for potential customers.

[Win]

Thanks. Yes, nothing much I can do regarding the choice of umbrella, even though I am paying the fees.

And looks like I will have to suck up the charges as well / will do a calculation but the perceived savings on pension contribution definitely outweighs the one-off charge.

[eek]

Thanks. Yes, nothing much I can do regarding the choice of umbrella, even though I am paying the fees.

And looks like I will have to suck up the charges as well / will do a calculation but the perceived savings on pension contribution definitely outweighs the one-off charge.

Could you name your agency so that when a contract is listed by multiple agents we know which one to avoid due to the sheer scale of their laziness and the kickbacks they are receiving...

[Win]

Could you name your agency so that when a contract is listed by multiple agents we know which one to avoid due to the sheer scale of their laziness and the kickbacks they are receiving...

It's not through agency, the contract is with consultancy who have got relationship with end client.

[eek]

It's not through agency, the contract is with consultancy who have got relationship with end client.

In which case I would suggest pointing out that there are a lot of other umbrella firms around most of which weren't founded to manage tax avoidance schemes.

I have a lot of problems with Brookson's including the fact they took over my old accountants and it was easier for me to do my own accounts when they had still failed to do them after 8 months of prompting.