If you die before you retire
We'll transfer all of your pension savings to your beneficiaries
We do what we can to follow your expression of wish
Because we look after your pension savings while you're alive, they're not legally a part of your estate. We keep them in trust for you. This means they’re not covered by your will. However, the money you’ve saved in your Smart Pension account can be paid as a lump sum to a beneficiary if you die before your retirement age.
You can nominate as many beneficiaries as you like, and decide what percentage of your pension savings they should each receive. Combined, the amount you allocate needs to add up to 100%. Usually, there’s no personal or inheritance tax to pay on that money.
Our trustees will decide how the funds will be shared. They'll take action that's in line with your wishes as much as possible. To do that, the trustees will consider:
- the information you’ve given us in your Expression of Wish
- the content of your will
- your dependants, when you died
- each beneficiary’s age, needs, and relationship to you
We do what we can to follow your expression of wish
Because we look after your pension savings while you're alive, they're not legally a part of your estate. We keep them in trust for you. This means they’re not covered by your will. However, the money you’ve saved in your Smart Pension account can be paid as a lump sum to a beneficiary if you die before your retirement age.
You can nominate as many beneficiaries as you like, and decide what percentage of your pension savings they should each receive. Combined, the amount you allocate needs to add up to 100%. Usually, there’s no personal or inheritance tax to pay on that money.
Our trustees will decide how the funds will be shared. They'll take action that's in line with your wishes as much as possible. To do that, the trustees will consider:
- the information you’ve given us in your Expression of Wish
- the content of your will
- your dependants, when you died
- each beneficiary’s age, needs, and relationship to you
It's important to keep your expression of wish up to date
When you first become an active member of your Smart Pension scheme, we ask you to complete an expression of wish form. If you die before taking any of your pension savings, then the trustees will use your Expression of Wish form to help them decide who should receive your Smart Pension savings.
As you can see, it's important to keep us up to speed on those details – who you’d like to receive the money in your pension savings, if something happens to you.
To learn more about registering your expression of wish, you'll need to sign in to your account first.
It's important to keep your expression of wish up to date
When you first become an active member of your Smart Pension scheme, we ask you to complete an expression of wish form. If you die before taking any of your pension savings, then the trustees will use your Expression of Wish form to help them decide who should receive your Smart Pension savings.
As you can see, it's important to keep us up to speed on those details – who you’d like to receive the money in your pension savings, if something happens to you.
To learn more about registering your expression of wish, you'll need to sign in to your account first.
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.