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 Active Impact Bond Fund
Aims to invest in bonds which have an environmental impact and generate financial return above the global green bond market, taking into account Environmental, Social and Governance issues when selecting investments.
As this fund was recently launched, a factsheet is not yet available.
Smart Active Impact Equity Fund
The aim of this fund is to invest in equities which provide growth over the long term (being a period of five years or more) and invest in companies that contribute to the achievement of the United Nations’ Sustainable Development Goals.
As this fund was recently launched, a factsheet is not yet available.
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 improve potential outcomes for investors likely to purchase fixed annuities by providing a diversified exposure to assets that reflect the broad characteristics of investments underlying a typical traditional level annuity product, incorporating Environmental, Social and Governance (“ESG”) considerations as part of the investment strategy.
The fund cannot provide full protection against changes in annuity rates for individual members as these also depend upon a number of other factors (e.g. changes to mortality assumptions).
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 Ethical and Climate Fund
Aims to track a filtered index, which excludes companies that operate in industries that breach certain ethical criteria.
Smart Global Bond Index Fund
Aims to invest in different types of bonds in the UK and overseas, taking into account Environmental, Social and Governance factors.
Smart Growth Fund – Higher Risk
This fund carries a higher risk of fluctuation to your savings than other growth funds available but has the potential for high growth, though this is not guaranteed.
Smart Growth Fund – Lower Risk
This fund carries the lowest risk of fluctuation to your savings than other growth funds available but also reduced likelihood of a high return. It may be suitable if you are concerned about volatility.
Smart Income Fund
Aims to provide long-term investment growth up to retirement, and to support flexible income during retirement, taking into account Environmental, Social and Governance factors.
Smart North America Equity Index Fund
Aims to provide broad exposure to companies in the North American equity market, taking into account Environmental, Social and Governance factors.
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 Sustainable Growth Core
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas.
Smart Sustainable Growth Fund
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas to mitigate Environmental, Social and Governance risks and benefit people and the planet by having a moderate allocation to investments contributing to solutions for environmental and social issues.
Smart Sustainable Growth Plus
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas to mitigate Environmental, Social and Governance risks and benefit people and the planet by having a high allocation to investments contributing to solutions for environmental and social issues.
Smart UK Equity Index Fund
Aims to provide broad exposure to the UK stock market, taking into account Environmental, Social and Governance factors.
Smart World (ex UK) Developed Equity Index Fund
Aims to provide broad exposure to large and mid-cap companies in the developed world, excluding the UK, taking into account Environmental, Social and Governance factors.
Smart World Emerging Markets Equity Index Fund
Aims to provide access to key emerging economies taking into account Environmental, Social and Governance factors.
