Complete your expression of wish
An expression of wish lets us know who you’d like to receive your pension savings if you die before you retire
What is an expression of wish?
Your expression of wish is a statement that tells us who you'd choose to receive your pension savings if you die before you retire. We refer to those people as beneficiaries.
What you write on the form is a key influence for our trustees as they make a decision about releasing your savings. That’s why it’s important to keep your expression of wish up to date, just like a will, so that we’re up to speed with any changes.
What is an expression of wish?
Your expression of wish is a statement that tells us who you'd choose to receive your pension savings if you die before you retire. We refer to those people as beneficiaries.
What you write on the form is a key influence for our trustees as they make a decision about releasing your savings. That’s why it’s important to keep your expression of wish up to date, just like a will, so that we’re up to speed with any changes.
You decide who you wish to receive your savings
Your pension sits outside your estate – it’s not covered by your will. This means that, if you die before you retire, your pension savings can be paid as a lump sum to one or more beneficiaries. Usually, a beneficiary won’t pay personal or inheritance tax on that money.
We hope it won’t happen but, if it does, then our Smart Pension trustees will take appropriate steps to identify who the beneficiaries should be in that situation. They’ll take several things into consideration before releasing the money. This includes:
- your most up-to-date expression of wish
- if anyone was dependent on you during your lifetime
- each beneficiary’s age, needs, and relationship to you
- any other relevant content in your will
You decide who you wish to receive your savings
Your pension sits outside your estate – it’s not covered by your will. This means that, if you die before you retire, your pension savings can be paid as a lump sum to one or more beneficiaries. Usually, a beneficiary won’t pay personal or inheritance tax on that money.
We hope it won’t happen but, if it does, then our Smart Pension trustees will take appropriate steps to identify who the beneficiaries should be in that situation. They’ll take several things into consideration before releasing the money. This includes:
- your most up-to-date expression of wish
- if anyone was dependent on you during your lifetime
- each beneficiary’s age, needs, and relationship to you
- any other relevant content in your will
How to complete your expression of wish
Sign in to your account and select 'expression of wish' from the main menu. That will take you to a form, with which you can tell us who you’d like to be your beneficiary, and what percentage of your pension savings you'd like them to have.
You can add as many beneficiaries as you like. You can also specify what percentage of your savings you’d like to go to each one. To nominate one person, the percentage needs to be set at 100. As you add other beneficiaries, you can adjust this percentage. The total should always add up to 100.
How to complete your expression of wish
Sign in to your account and select 'expression of wish' from the main menu. That will take you to a form, with which you can tell us who you’d like to be your beneficiary, and what percentage of your pension savings you'd like them to have.
You can add as many beneficiaries as you like. You can also specify what percentage of your savings you’d like to go to each one. To nominate one person, the percentage needs to be set at 100. As you add other beneficiaries, you can adjust this percentage. The total should always add up to 100.
Will the trustees follow your expression of wish?
Our trustees have a duty to make sure your funds are given to the most appropriate beneficiaries. If you have young children for example, and your expression of wish states that you’d like a friend to receive your pension fund, then the trustees will also take your children’s needs into consideration. But the trustees always do their best to accommodate your wishes.
Will the trustees follow your expression of wish?
Our trustees have a duty to make sure your funds are given to the most appropriate beneficiaries. If you have young children for example, and your expression of wish states that you’d like a friend to receive your pension fund, then the trustees will also take your children’s needs into consideration. But the trustees always do their best to accommodate your wishes.
What happens if you don’t complete your expression of wish?
There’s no obligation to give us an expression of wish. However, without one, it can be harder for our trustees to decide who should receive your savings.
What happens if you don’t complete your expression of wish?
There’s no obligation to give us an expression of wish. However, without one, it can be harder for our trustees to decide who should receive your savings.
Instant changes to your
pension savings
You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.
Instant changes to your
pension savings
You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.
Instant changes to your
pension savings
You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.
Instant changes to your
pension savings
You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.
Instant changes to your
pension savings
You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.
Smart Pension's fund choices
Smart All Stocks Index - Linked Gilts Index Fund
Aims to track the return of the FTSE Actuaries British Government Index Linked All Stocks Index, which features UK government bonds with returns linked to the Retail Price Index (RPI).
Smart Annuity Fund
Aims to invest in a way which matches the broad characteristics of investments underlying the pricing of a typical non-inflation linked annuity.
Smart Cash Fund
Aims to maintain capital and provide a return in-line with money market rates by investing in a range of money market securities denominated in sterling.
Smart De-risking Fund
This fund has been created so that it will typically suit most of our members who are approaching their target retirement age and would like a lower level of volatility than the smart growth funds.
Smart Ethical Global Equity Index Fund
Aims to track a filtered index, which excludes companies that operate in industries that breach certain ethical criteria.
Smart Future Fund
This fund aims to replicate the asset allocation, performance and risk profile of our Smart Growth Moderate fund, whilst incorporating additionalscreening criteria that revalues the weighting of each investment depending on their Environmental, Social, and Governance (ESG) score. It aims to limit the additional risks associated with ESG factors.
Smart Growth Fund - Higher Risk
This fund carries a higher risk of fluctuation to your savings but has the potential for high growth, though this is not guaranteed
Smart Growth Fund - Lower Risk
This fund carries the lowest risk of loss but also reduced likelihood of a high return, but it may be suitable if you are concerned about volatility.
Smart Growth Fund - Moderate Risk
This fund has been created so that it will typically suit most our members, it has the medium level of risk of these funds.
Smart Income Fund
Aims to provide long-term investment growth up to and during retirement, to facilitate the drawdown of retirement income.
Smart Lower Risk Fund
This fund has been created so that it will typically suit most of our members who are approaching their target retirement age and would like an even lower level of volatility than the smart growth funds and the de-risking fund.
Smart North America Equity Index Fund
Aims to track the return of the FTSE World North America Index, which provides broad exposure to companies in the North American equity market.
Smart Overseas Bond Index Fund - GBP Hedged
Aims to invest in different types of bonds, including corporate and government bonds both in the UK and overseas.
Smart Sharia Fund
Aims to create long term appreciation of capital through investment in a diversified portfolio of securities which meets Islamic investment principles.
Smart UK FTSE 100 Equity Index Fund
Aims to track the return of the FTSE 100 Index, which contains the largest listed companies on the UK stock market.
Smart World (ex UK) Developed Equity Index Fund
Aims to track the performance of the FTSE Developed (ex UK) Index, which provides broad exposure to large and mid-cap companies in the developed world, excluding the UK.
Smart World Emerging Markets Equity Index Fund
Aims to track the return of the FTSE All-World Emerging Index, which provides access to key emerging economies including Brazil, Russia, India and China.