Smart Pension surpasses 1.5 million members

Like many savers, Joe is keen to ensure that he can “enjoy retirement feeling financially secure” and recognises that “a good pension can go a long way towards that”.

Since reaching the milestone of one million members in November 2022, Smart Pension member numbers have grown by over 50% through new business wins and strategic master trust acquisitions. Now hailed as one of the leading consolidators in the market, Smart Pension recently completed the transition of Evolve Pensions into Smart Pension, involving the transfer of over 130,000 members from the Crystal Trust.

According to Go Group’s industry league table, this puts Smart Pension’s master trust at almost three times the member base of its nearest competitor. The number of members with Smart Pension is set to rise to over 2 million by the end of 2025 due to further growth and consolidations including up to 300,000 members and assets from the consolidation of Options Master Trust, expected to transfer to Smart Pension in the coming months.

Smart Pension launched in 2015 in response to the implementation of auto enrolment legislation, rolling out seamlessly to businesses across the UK. Since then, they’ve signed up the equivalent of 1 member every 3.5 minutes, becoming one of the fastest growing master trusts in the UK.

Jamie Fiveash, CEO of Smart UK, said:

“The value and efficiency we can provide as we scale means we can continue to put savers at the forefront of everything we do. We’ve proven we can onboard schemes and employers of any size efficiently, and it’s rewarding to see that Smart Pension is now helping over 1.5 million members with over £6 billion in retirement savings.“This means we’ve grown 5,900% in my time at Smart Pension and we’re set to continue on this path to achieve even greater scale whilst ensuring innovation thrives and maintaining the best customer service among our competitors.”

About Smart Pension

Launched in 2015, Smart Pension now exceeds £10bn in Assets Under Management (AUM) and serves over 2 million members and 100,000 employers. It is powered by Keystone, Smart’s global savings and investments technology platform.

Aquiline, Barclays, Chrysalis Investments, DWS Group, Fidelity InternationalStrategic Ventures, J.P. Morgan, Legal & General Investment Management, MUFG and Natixis Investment Managers are all investors in Smart Pension.