Smart Pension hits £5 billion in UK Assets Under Management

8 March 2024

Smart Pension publishes on its website:

This milestone was driven by consolidation strategy and strong organic growth

• Regular contribution flows now at £1 billion pa
• Forecasts even stronger growth throughout 2024 and 2025

‍Smart Pension, one of the UK’s leading workplace pension providers, has announced that its master trusts have reached £5 billion in Assets Under Management (AUM).

Smart Pension, which operates the Smart Pension Master Trust, serves over 1.4 million members and more than 70,000 employers and has consistently been one of the fastest growing Master Trusts in the UK. It now sees regular contribution inflows of £1 billion pa alongside strong inorganic and organic new business flows. Smart Pension is forecasting even stronger growth throughout 2024 and 2025.

Alongside its strong organic growth, Smart Pension has expanded through a string of strategic consolidations. In July 2023 Smart Pension acquired Evolve Pensions, a leading provider of UK workplace pension services. This acquisition is the latest in Smart Pension’s consolidation strategy, which now includes nine former master trusts including the Ensign Master Trust, the Welplan Master Trust, the Corpad Master Trust and the Corporate Pensions Trust. With the acquisition of Evolve, Smart Pension’s AUM rose to over £4 billion.

In July 2023 Smart Pension also signed the Mansion House Compact, a pledge to amplify investments in unlisted equities for better outcomes for UK savers. By signing the compact, Smart Pension came together with eight other signatories at the forefront of the industry, committing to achieve a minimum 5% allocation to unlisted equities via Defined Contribution (DC) pension funds, promoting innovative high-growth companies and bringing benefits to pension savers.

Jamie Fiveash, CEO of Smart UK, said:

“Passing this milestone is a testament to our dedication to challenging the status quo in the pension industry. We’ve embraced cutting-edge technology, making a tangible difference to savers and employers alike. We are firmly focused on continuing Smart Pension’s strong growth, further margin improvement and continued profitability.

“We are committed to delivering a great value proposition, high performing sustainable investment strategies and excellent customer service – the growth we’ve achieved reflects that. We have formed some excellent partnerships with advisers and other intermediaries. We’re focused on continuing to build these partnerships, delivering market leading solutions for all our clients and members. As we celebrate this milestone, we look forward to continuing to disrupt, innovate and lead in this ever-evolving landscape.”

Co-founder of Smart and Group CEO, Andrew Evans, said:

“Hitting £5 billion AUM is strong recognition of Smart Pension’s success and journey to date. This milestone highlights the hard work and dedication of all of the Smart team and our excellent partners who have supported us. We see huge opportunities for further growth in the UK and are committed to further investment in this market given the trajectory of the Smart Pension Master Trust and the regulatory tailwinds that are coming.”

About Smart Pension

Launched in 2015, Smart Pension exceeds £5bn 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.

Source: Smart Pension