Smart Pension reaches £3 billion Assets Under Management

Milestone driven by consolidation strategy and strong organic growth

Smart Pension reaches £3 billion Assets Under Management

Smart Pension, the fast growing, technology-enabled workplace pension provider, has announced that it has reached £3 billion in assets under management (AUM) in its master trust.

The Smart Pension Master Trust, which serves over a million members and 70,000 employees across the UK, has enjoyed inflows of some £150m in the last month alone. The master trust has grown by more than 2,000% in the last four years.

The news comes shortly after parent company Smart, the global savings and investments technology provider which runs Smart Pension, announced a £76 million Series E funding round, led by Aquiline. In addition to bolstering Smart’s global expansion plans and cultivating its proprietary technology platform Keystone, funds from the investment round will also help accelerate Smart Pension’s growth in the UK.

Alongside its strong organic growth, Smart Pension has also expanded through a string of strategic consolidations. In October 2022, it announced that it would integrate the Ensign Master Trust, delivering increased efficiencies and an improved experience for employers and members. This integration is expected to complete in the next few weeks. Smart Pension intends to announce new consolidations and partnerships in due course.

Jamie Fiveash, CEO of Smart UK, said:

“This achievement is a testament to our dedication to challenging the status quo in the pension industry. We've embraced cutting-edge technology, making a tangible difference to savers and employers alike.
We are committed to delivering great value and excellent customer service, and the growth we’ve achieved reflects that. Moreover, our capacity to seamlessly integrate strategic acquisitions speaks volumes about our adaptability and vision. As we celebrate this moment, we look forward to continuing to disrupt, innovate, and lead in this ever-evolving landscape."

About Smart Pension

Launched in 2015, Smart Pension exceeds £5bn in assets under management (AUM) and now serves over one million members and more than 70,000 employers. It is powered by Keystone, Smart’s global savings and investments technology platform.

Aquiline Capital Partners, Barclays, Chrysalis Investments, DWS Group, Fidelity International Strategic Ventures, J.P. Morgan, Legal & General Investment Management, Link Group and Natixis Investment Managers are all investors in Smart Pension.