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Your Smart Pension account is linked to your Rothesay policy

The funds held in your Smart Pension account are linked to the benefits provided by your Rothesay policy. You will see this referred to in Rothesay communications as your ‘linked fund’.

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Why do I have an account with Smart Pension?

Under your previous pension scheme, you were entitled to a defined benefit pension, and you had additional funds (such as defined contributions or additional voluntary contributions) that you could use to fund your lump sum payable on your retirement.

The trustees of your previous pension scheme have purchased a policy with Rothesay to provide your defined benefit pension and transferred your additional funds to Smart Pension.

There remains a link between your additional funds now held in your Smart Pension account and your Rothesay policy, and you have the option to use some or all of these funds to fund the lump sum payable under your Rothesay policy. This option is explained as option 1 below.

What options do I have for my linked fund?

You have the following options at retirement:

Request that some or all of your linked fund is transferred to your Rothesay policy to be used to fund the lump sum payable when the pension under your Rothesay policy is put into payment

When your pension is put into payment under your Rothesay policy, you will be given the option to take a lump sum alongside your pension, and to request that some or all of your linked fund be transferred to Rothesay to fund the lump sum payable under your Rothesay policy.

Any retirement quotations that you receive from Rothesay will include this option. If you wish to take this option, you will need to complete the forms provided by Rothesay, including the “Smart Pension transfer form”. We will transfer your linked fund to your Rothesay policy, up to a maximum amount of the lump sum payable under your Rothesay policy, if Rothesay instruct us that they are willing to accept the transfer having received your completed forms.

You can use the contact details below if you wish to request a retirement quotation from Rothesay.

If any funds remain in your Smart Pension account after taking this option, then you can access these funds as described in option 2.

Keep your linked fund with Smart Pension or transfer your linked fund to another provider

At retirement, you can claim your benefits from Smart Pension. You can find out what options are available to you by reading this help article.

Alternatively, you can transfer your funds held with Smart Pension to another provider at any time.

Please note that if you claim your benefits from Smart Pension or transfer your linked fund to another provider then you will no longer have the option to request a transfer of your linked fund to Rothesay to be used to fund part of all of the lump sum payable alongside your pension from your Rothesay policy (option 1). You will need to sign a declaration to confirm that you understand this before we can process either of these options.

Contact us

Get in touch if you have any questions about your Smart Pension account by visiting the contact us page.

If you wish to contact Rothesay directly, please use the details given at: rothesay.com/policyholders/policyholder-contact-page.