Smart consolidation trial

Frequently asked questions

You can find the answers to your questions about the Smart consolidation trial here. If you need further help, please get in touch by emailing us at

Getting started

How do I sign in to my Smart Pension account?

If you need some help signing in to your Smart Pension account, take a look at our help article How do I sign in?

To use the Smart consolidation service, sign in to your Smart Pension account, click Account and then Smart Extras.

What do I need to use this service?

You’ll need the details you use to sign in to your online accounts for your pension schemes with other providers or employers.

If you don’t have these details or aren’t sure who your previous provider or employer is, you can find help and support on the dashboard.

Why isn't my previous provider or employer included in the list on the dashboard?

You can add these pension schemes to your dashboard manually. To do this, you’ll be asked to sign a Letter of Authority.

A Letter of Authority means you’re giving Pension Lab permission to contact your previous provider or employer to obtain information about your pension scheme with them. Pension Lab will add this information to your dashboard and let you know when this is done.

You’ll only be able to manually add a pension scheme to your dashboard up until two weeks before the end of the trial. This is because it can take longer than two weeks for your previous employer or provider to accept a Letter of Authority.

Can I include defined benefit pension schemes on my dashboard?

Defined benefit pension schemes aren’t included in the Smart consolidation trial.

If you would have found it useful to have them included in the trial, please let us know in the feedback survey you’ll receive at the end of this trial.

Do I have to use this service?

No. The Smart consolidation trial is being offered to you free of charge, with no commitment or obligation to use it.

If you decide not to use it, we would love to know why – so please let us know in your end of trial feedback survey.

Smart consolidation trial

What is pension consolidation?

Pension consolidation means combining all your pension savings into one scheme.

If you’ve had more than one job during your working life, it’s likely that you have paid into more than one pension scheme.

If you have savings in several different schemes, you may want to think about combining them.

Why should I use this service?

It can be difficult to understand the full picture of your pension savings if you have pension schemes with multiple providers or employers.

This service builds you a personalised dashboard that allows you to see all of your pension schemes in one place. This gives you a much better idea of how much you’ve saved and how these savings are performing.

Some people might prefer to have all their pension savings with one provider – if you think you might like to consolidate your pension savings, there’s lots of information available to support you in making that decision. And, if you decide to transfer to Smart Pension, you can do this from your dashboard.

Why is this service offered as a trial?

We are running this trial to see if the service gives you the information and support you need, so that you can easily manage your pension savings and decide whether to transfer your other pension savings to Smart Pension.

Will the trial be extended or become permanent?

At the end of the trial you’ll receive a feedback form to let us know about your experience. We will consider all feedback when deciding if Smart consolidation should become a permanent service for all our members.

What is Pension Lab and will it have my data?

Pension Lab is an organisation that helps people take control of their pension savings by showing them all their pensions in one place. We have partnered with Pension Lab to bring you Smart consolidation.

As part of Smart consolidation, Pension Lab is providing a service that enables you to add your other pensions to your dashboard. They also conduct the Letter of Authority process if your previous provider or employer doesn’t have an online account or isn’t on the list included in the dashboard.  

We will need to share some data about your Smart Pension account with Pension Lab to build your dashboard. We’ll only share your data with your permission and will only share the data with Pension Lab – who will store it securely. We are only sharing the minimum data necessary to allow Pension Lab to provide this service.

Pension Lab don’t share any data with us about your pensions with other providers or employers, unless you choose to transfer pension(s) to Smart Pension. You will be asked to provide your permission for Pension Lab to share this data with us if you decide to transfer.

Pension Lab won’t contact you unless you give them permission to do so. You can read Pension Lab’s full terms and conditions and privacy notice here.

What happens to my data at the end of the trial period?

At the end of the trial period, you’ll no longer have access to Smart consolidation or your personalised dashboard. Any data stored on your dashboard will be deleted. This includes data you’ve shared with Pension Lab as well as data we have shared with them with your permission.

You can read Pension Lab’s terms and conditions and Privacy notice here.

Making the decision to transfer

What should I think about when making the decision to transfer?

If you’re considering transferring to Smart Pension, please read the Transfer guide section of your dashboard. This guide provides information on the potential risks and benefits, so you can decide if a transfer is right for you.

Neither Smart Pension nor Pension Lab can provide financial advice. We recommend that you talk to a financial adviser before making a decision about transferring your pension savings. You can find one in your local area at

What is the transfer process?

You can request a transfer through your personalised dashboard. You’ll be asked to select the pensions you want to transfer, and provide your policy/membership number(s). If you don’t have your policy/membership number(s), we can obtain this information from your previous provider or employer but the transfer will take a little longer.

On your request to transfer you’ll be asked to complete a member declaration, confirming you’ve considered certain factors when making your decision.

We will handle the rest and will email you when the transfer is completed. You may also be contacted by your old provider or employer depending on their transfer process.

Are there restrictions on what can be transferred to Smart Pension?

We can’t currently accept all transfers. Examples of transfers we can’t accept include:

  • any pension savings with guarantees attached – you may see a reference to a guaranteed annuity rate (GAR) or guaranteed with profit investment returns in your scheme documents if you have this type of scheme
  • any transfer from a defined benefit scheme (may also be called a final salary or career average scheme). This is an employer’s scheme where the benefits are based on length of service and salary
  • any transfer where the existing pension savings are invested in a with-profits fund and the provider is applying a Market Value Adjustment (MVA)

We don’t accept transfers of these types of benefits as they can be much more complex and you would lose a benefit that could be valuable to you.

We also can’t accept transfers that are valued at less than £100.

How do I know this isn’t a scam?

The Smart Pension Master Trust is a registered pension scheme. It is authorised and supervised by The Pensions Regulator.

We are offering the Smart consolidation trial as part of the service we provide to our members. Any pension savings you transfer into Smart Pension will be managed responsibly and looked after by the Trustees.

You can learn more about pension scams at How to be scam smart.