I have received an email to create a new Smart Pension account. Is this genuine?
Yes, this is your welcome email communication from Smart Pension. This covers all of the benefits and features you now have access to. This email can be found by searching the following subject line: ‘your new Smart Pension account has been set up’ in your mailbox to find it.
Please note that this communication may have also included an internal reference, which could be either ‘Options deferred Wahed’, ‘Options deferred Default’ and ‘Options deferred TAM’. Please be reassured that this is an internal reference only, and we’re sorry for any confusion this may have caused.
Why does my closing balance in the previous Options Workplace Pension Trust differ from my current pension balance in my new Smart Pension account?
Your closing balance is the value that was transferred at the point of transfer. This balance would be invested automatically to buy investment units of your new fund. As the unit prices of funds fluctuate with market conditions, you may notice that your pension balance may have gone up or down depending on market movements.
I am struggling to sign in for the first time, can you help?
The quickest and easiest way to find out how to sign in for the first time is by reading our help article here.
Why am I a member of Smart Pension?
Smart Pension entered into a commercial agreement to purchase the Options Workplace Pension Trust. As part of this agreement, your account and pension savings have been transferred from Options to Smart Pension.
Who are Smart Pension?
We’re a master trust, regulated by The Pensions Regulator. We’re trusted by over 90,000 UK employers and look after the pension savings of over 1.5 million pension scheme members. We’re also backed by some of the largest names in financial services, including Barclays and J.P. Morgan.
Rated ‘Excellent’ by our customers, we’re here to help you stay in control of your pension.
Why did this happen?
Consolidation in the pension industry is common. By joining Smart Pension, your pension savings are now part of a larger, award-winning master trust that harnesses technology to help you stay close to your pension whenever and wherever you are.
You can find out more by reading our press release here.
What does this mean for me?
New pension provider: Smart Pension is now responsible for managing your workplace pension savings.
Continuity of savings: the move was designed to be a seamless transition of your existing savings from Options Workplace Pension Trust into the Smart Pension Master Trust.
New access: you’ll now use your Smart Pension account to manage your pension. You can update your personal details, combine other pensions and add money to your savings in one app experience.
Can I transfer my old pensions to Smart Pension?
Yes, you can use our easy online tool to bring all your pensions together in just a few clicks. You can bring all of your old pensions together in one place, whether you know which provider they’re with or not. Find and bring your pension savings together today.
What retirement options are available at Smart Pension?
Whether you are considering working part-time in the early years or looking to stop working altogether, the retirement options available to you at Smart Pension give you flexibility, allowing you to retire in a way that suits you.
If you're 55 or older, you can manage all your retirement options in your Smart Pension account, online or in the app.
To find out more about the retirement options available, including Smart Retire, you can read our help article here.
Can I add money to my Smart Pension account?
Yes, you can add money at any time with a one-off or regular top-up, you can add extra money to your pension whenever it works for you, giving you more choices in the future.
You find out more here.
How do I download the Smart Pension app?
You can download the Smart Pension app from the Google Play Store or the Apple App Store. Simply search Smart Pension.
What happens to my pension savings with Options Workplace Pension Trust?
Your existing pension savings have been securely moved from the Options Workplace Pension Trust into your new Smart Pension account. You don’t need to do anything. The value of your savings has been transferred automatically.
Can I still see my past statements from Options?
You should have received a final statement from Options covering the period up until the transfer. Moving forward, you can view any new contributions and the value of your pension savings in your Smart Pension account.
Where can I find more information about managing my pension savings with Smart Pension?
You can find more information about how we can help you manage your pension savings on our dedicated website. Alternatively, we have a range of help articles to support you.
Where can I find more information about my choices as a member who no longer contributes?
If you stopped contributing to your workplace pension (formerly with Options), you can still find all the information you need in your dedicated member guide. It’s designed to help you understand how your Smart Pension account works and provide you with relevant information, so you can make important decisions with confidence.