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Transfer reward terms and conditions

By accepting a transfer reward you are agreeing to the following terms and conditions.

  1. Eligibility to enter:
    1. The offer is being run by Smart Pension Limited.
    2. This offer is open to members of the Smart Pension Master Trust (“SPMT”), excluding employees of Smart Pension Limited, who receive an invitation and request a transfer in accordance with these terms and conditions.
    3. By accepting the offer, you confirm that you are eligible to do so and that:
      1. You have checked whether any exit fees will be charged by the transferring scheme and are comfortable with those fees if they apply;
      2. You have checked whether you have any protected rights in the transferring scheme and whether you would lose those rights by transferring;
      3. If you are accepting the reward as a contribution into your SPMT account, you have checked that you have enough annual allowance to accept the additional contribution; and
      4. You have considered whether you need any financial advice before making a transfer; and
      5. You have taken enough time to decide whether a transfer to SPMT is right for you.
  2. How to accept the offer:
    1. To accept the offer you must request a transfer via the Smart Pension app from a UK registered pension scheme to SPMT between 13 February 2026 and 27 February 2026 (the “Offer Period”). You may request more than one transfer but only transfers requested during the Offer Period will qualify for the offer.
    2. The minimum transfer value for all transfers requested during the Offer Period is £1,000.
    3. Smart Pension cannot accept transfers of any defined benefit, safeguarded benefit or otherwise guaranteed pensions and any transfer must be made in accordance with our usual processes.
    4. You must confirm whether you would prefer to receive a contribution into your SPMT account or a Love2Shop voucher within 14 days of the confirmation that all of the transfers requested during the Offer Period are complete. If Smart Pension does not receive notification of your choice within 14 days, it will provide a contribution into your SPMT account.
    5. Smart Pension will not accept responsibility if the transferring scheme blocks or delays a transfer.
  3. Reward:
    1. The transfer is complete once funds are received in SPMT and allocated to your SPMT account. Transfers must be completed within six months of the end of the Offer Period.
    2. The reward will be issued in the last week of the month following the completion of the transfer. Or where all of the transfers requested in the Offer Period did not complete within six months of the end of the Offer Period in the last week of the seventh month following the end of the Offer Period.
    3. You will receive an additional contribution or a voucher into your Smart Pension account, in accordance with the choice you made when you accepted the offer and the reward thresholds below. You will not be able to amend your selection.
    4. The additional contribution to your Smart Pension account will be up to £400 and Smart Pension will also apply for tax relief of up to £100 on the amount on your behalf. Basic rate tax relief will be added to your account once this is received from HMRC, in accordance with Smart Pensions' usual processes for relief at source claims. Higher rate tax payers may be able to claim additional tax relief in their tax return.
    5. Additional contribution reward thresholds:
      Total transfer value received by Smart Pension Additional contribution (from Smart Pension) Basic Rate Tax Relief (from HMRC)
      £1,000 to £10,000 £50 £12.50
      £10,001 to £20,000 £100 £25
      £20,001 to £40,000 £200 £50
      £40,001+ £400 £100
    6. The voucher will be issued by Love2Shop. Vouchers are non-exchangeable and non-transferable and no cash alternatives will be offered.
    7. Smart Pension reserves the right to substitute vouchers with another of equal or higher value if circumstances beyond their control make it necessary to do so.
    8. Voucher reward thresholds:
      Total transfer value received by Smart Pension Voucher
      £1,000 to £10,000 £25
      £10,001 to £20,000 £50
      £20,001 to £40,000 £100
      £40,001+ £200
  4. Data protection
    1. All personal information provided shall be used in accordance with our privacy policy.
  5. Miscellaneous
    1. Smart Pension reserves the right to cancel the reward or amend these terms and conditions at any time before they are accepted, without prior notice.
    2. These terms and conditions will be governed by English law and any disputes will be subject to the exclusive jurisdiction of the courts of England and Wales.