Smart Pension Workplace Pension Platform User Guide

Smart Pension Workplace Pension Platform

Specifications

• Assets under management members: 1.4 million
• Employers : 70,000
• Growth : every four weeks
• Regulation : Authorised and supervised by The Pensions Regulator
• Trustees : Experienced independent board of trustees
• Master Trust Type: Defined contribution master trust

Product Usage Instructions

About Smart Pension
Smart Pension is a leading UK workplace pension provider aimed at transforming retirement, savings, and financial well-being across all generations. With over 1.4 million members and 70,000 employers, it offers a defined contribution master trust scheme.

Joining Your Workplace Pension
After meeting auto-enrolment criteria or opting into your workplace pension:

1. Receive your enrolment letter and online account details.
2. Contribution collected by Smart Pension from your employer.
3. If you choose to stay in the scheme, your pension contribution will be submitted to Smart Pension for investment in the pension scheme.

Making the Most of Your Smart Pension
To maximize your pension benefits:

1. Sign into your account upon receiving the welcome email and set up your password.
2. Start saving and sign up for Smart Rewards. Nominate beneficiaries for your pension.
3. Set your retirement age and contribution amount preferences.
4. Track and combine other pension pots to reduce costs.
5. Align your investment choices with your personal beliefs.

Investment Options
To manage your investments:

1. Sign in to your Smart Pension account.
2. Select Investments.
3. Select Change your investments to choose where you want your pension invested.

Contacting Us
If you need assistance, you can contact us through

• Smart app: Access the help centre and live chat.
• Live chat: Speak to an expert through live chat on the app or website.

About Smart Pension
Smart Pension is one of the UK’s largest workplace pension providers and has rapidly become the provider of choice for many businesses. Our award-winning technology platform means we can deliver a ground-breaking workplace pension that is easy to migrate to, reduces the admin burden of running payroll and offers value for money. For members, our easy-to-use app means they can access their pension savings at any time with the click of a finger – and
our investments are 100% climate change friendly. Our mission is to transform retirement, savings and financial wellbeing across all generations.

• Authorised and supervised by The Pensions Regulator
• Experienced independent board of trustees
• Backing from global financial giants

Smart Pension offers a defined contribution master trust.
A master trust pension scheme provides a workplace pension that can be used by many employers and their employees. They can sometimes be called multi- employer pension schemes. Master trusts now account for a significant portion of the workplace pensions market. The retirement savings of more than ten million UK workers are now invested in master trusts.

Joining your workplace pension
What happens next if you have met auto enrolment criteria or opted in to your workplace pension.

*Your first pension payment deduction will be subject to employer pension arrangements typically between month 1 and 3 after joining. Any employee can choose to join sooner if they wish.

Make the most of your Smart Pension
To get the most from your pension, follow this simple pensions checklist. When you receive your welcome email sign into your account by following the link, creating a password and you’re ready to go.

• Start saving money and sign up for Smart Rewards
• Choose who gets your money if you die by adding your beneficiaries
• Decide when you would like to stop working by setting your retirement age and contribution amount
• Make the most of your savings and reduce costs by tracking and combining your other pension pots
• Align your investment choice to your personal beliefs

Sign in to your account

• To make the most of your pension, it is important to sign in as soon as you can
• Once you’re in there is an easy To do list to complete such as adding your address, telephone number and email
• To sign in, you will need your welcome email which will be sent from Smart Pension. Follow these simple steps:
  1. Click the “Activate your account” link in the email
  2. You will be asked to “create a new password”, and you will then be able to see your account

You can sign in at any time with your account name, email address and new password

Save with Smart Rewards

• Enjoy free, unlimited access to over 1,400 discounts at almost every major retailer in the UK, on everything from supermarkets , to cinema to travel. You could save up to £600 a year.
• To sign up for Smart Rewards, follow these four simple steps:
  1. “Sign in” to your Smart Pension account
  2. Click “Account” menu
  3. Select “Extra Services”, then “Smart Rewards”
  4. “Sign up” using the email address you used for your Smart Pension account

Complete your expression of wish – nominate your beneficiaries

• An expression of wish lets us know who you’d like to receive your pension savings if you die before you retire.
• Although it might not be a fun task, making sure your partner and/or family are financially secure for the long term is really important.
• To complete an expression of wish, follow these three simple steps:
  1. “Sign in” to your Smart Pension account
  2. Select “Beneficiaries”
  3. Add “Beneficiaries”

Set your retirement age and contributions

• You can choose to increase your contributions at any point. Increasing contributions when you can afford to will boost your pension savings.
• Decide when you would like to stop working. Set your retirement age goal, this should be between 55 and 75. Changing your retirement age may affect the way your money is invested.
• Unsure about how much you will need in retirement? See this handy guide.
• To set your retirement age and adjust your contributions, follow these simple steps:
  1. “ Sign in” to your Smart Pension account
  2. Select “Retirement Age” and amend to reflect your goals
  3. Select “Contributions” and adjust to suit

Combine pensions

• Bringing your pension savings together now can set you up for financial security in the future.
• You may find you have multiple pension schemes with different providers, especially if you have changed jobs over the years or just lost track of previous pensions.
• Combining your pensions in one place means
• A single view – it’s easier to keep track of your retirement goals
• Less admin – only one set of paperwork
• Save on charges – You’ll pay one charge rather than many, which could mean more money for your retirement
• To combine your pensions, follow these two simple steps:
  1. “Sign in” to your Smart Pension account
  2. Click the “Combine pensions” tile on your dashboard and you’ll be guided through the process of combining your pensions

Investment options

We are managing your investments for you but you can choose where you want your pension invested.

• Your employer will have chosen a default investment fund where your pension is invested. The majority of members choose to remain in the default fund.

However, you can choose from our:

• We do it for you funds, depending on how sustainable you want your investment to be.
• Do it yourself funds perfect if you would rather manage your own savings and investment journey to retirement.
• To set your retirement age and adjust your contributions, follow these simple steps:
  1. “Sign in” to your Smart Pension account
  2. Select “Investments”
  3. Select “Change your investments”

Choose how you want to contact us
If you need help and support, you can choose to contact us in way that suits you. We also have a UK-based support team on hand to help you if you prefer to speak to us.

• Smart app – Access the help centre and livechat on your app
• Live chat – Speak to an expert through live chat on app or website
• Email – Submit your query via our online form
• SAVA – Speak to our virtual assistant SAVA
• Help Centre – You can find answers to the most frequently asked questions here
• Telephone – Call us on 0333 666 2626

How to make the most of your pension account

Watch this short video on how to make the most of your account and handy its key features

Keeping in touch
You will receive regular communications from us during your first year with us. Here’s a taster of what’s to come.

FAQ

Q: Can I change my investment choices later?
A: Yes, you can log into your Smart Pension account and select the option to change your investments at any time.

Q: How do I nominate beneficiaries for my pension?
A: You can complete your expression of wish in your account settings to nominate your beneficiaries.

Q: What happens if I decide to leave my workplace pension scheme?
A: If you choose to leave, you should contact Smart Pension for guidance on the process and potential implications for your retirement savings.

References

• Member support | Smart Pension Support

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