Pension scheme for employees

[Sawyer6]

My Financial Advisor is going to be setting up a company pension scheme for my small business (8 employees). He is quoting £1250 ex vat to do projections, set it up with Royal London or similar and get it up and running with my payroll (no ongoing work to do with payroll; simply the handover). Does this seem a reasonable price based on anyone else's experience? I know I could potentially do it myself but I don't want to and prefer to delegate it away.
Thanks

[PurpleMoonlight]

Yep, that's reasonable.

[Sawyer6]

cheers. Just remembered I hadn't said the breakdown is £500 cost analysis/ research, £500 communications to staff and £250 prepare for final letters so £1250 ex vat over 3 stages of the work.

[hunton69]

I had a quote of £2600 and been told by others it could be as much as £4000 so not a bad price.

[Pillskii]

OP, I'm in a similar line of work and would charge probably around 3-4 times that amount. It's simple work but can easily take a whole day with sorting paperwork etc. If you've used the advisor before and were happy then I'd say go for it.

[Sawyer6]

Thanks all. Been happy with other services thus far; wanted to gauge the pricing was not outlandish but sounds like a good price. I have since found out Royal London or AN other likely to charge me £75pcm for first 3 years for having the scheme with them too so that is actually more of a burden at £2700.. groan

[hunton69]

Were using Nest the government scheme. I believe they charge 0.3% and the employees 1.8% of a contribution