Smart Pension is to become the ABI’s first Workplace Platform member, the Association of British Insurers’ (ABI) Chair, Amanda Blanc, announced today at the industry association’s Annual Conference.
Smart Pension, established in 2014, is a technology-driven pension platform set up with the aim of making it easy for employers to meet their automatic enrolment needs. Businesses enrol their employees into a workplace pension scheme through the platform.
The ABI’s Chair, Amanda Blanc, commented:
“Today’s announcement is timely, following the recent news that 10 million people have now been auto-enrolled into a pension scheme. Smart Pension play an important role in enabling the continued growth of workplace pensions for the benefit of consumers and I look forward to working together on our shared policy ambitions.”
Andrew Evans, Co-Founder and CEO of Smart Pension said:
"We are delighted to be joining the ABI at this crucial time for the ongoing development of our pension system. Auto enrolment has achieved masses to date, but as an industry we've still got a lot to do to deliver really good outcomes for people. We look forward to being part of the conversation that will drive that change.”
Yvonne Braun, ABI Director of Policy, Long-Term Savings and Protection, added:
“Automatic enrolment in workplace pensions has fundamentally changed the long-term savings market. As markets change, we are changing with them, and welcoming new members is a very important part of this. Smart Pension will further strengthen the ABI’s voice in discussions with Government and regulators. We are excited to welcome Smart Pension on board.”
Launched in 2015, Smart Pension exceeds £4bn 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.