What is the Smart Pension Master Trust?

The Smart Pension Master Trust is an authorised pension scheme that helps you save for your retirement.

What period does my annual pension statement cover?

Your statement covers the 12 month period ending 30 June 2019, as this is the scheme year end. It includes contributions invested from 1 July 2018 to 30 June 2019. 

You can view the current value of your pension savings by signing in to your Smart Pension account.

Why am I getting my annual pension statement now?

We're required by law to send annual pension statements to our members within 12 months of our scheme year end. Annual pension statements are sent in batches, so you and your colleagues may not receive your statements at the same time.

Why have I received more than one annual pension statement?

You will receive a statement for each account you have with Smart Pension. You could have more than one account if you left employment and then returned to work for the same employer. You could also have been employed by multiple employers who use Smart Pension as their pension provider.

The personal details on my statement are incorrect, what should I do?

It's important to keep your personal details up to date on your Smart Pension account. You can update them via your Smart Pension account or the Smart Pension app.

What should I do if I think my annual pension statement is incorrect?

Remember, your statement won't include any contributions or transfers invested after 30 June 2019. We will include these payments in your next statement.

If you think your statement contains any incorrect information, please email us at employee@smartpension.co.uk

Where can I see my charges?

We charge a percentage of your investments each month for managing and investing your pension. This is the annual management charge (AMC). You can learn more about the AMC in the Investment Guide, which can be found in your Smart Pension account.

You can find any additional charges applied to your account in the 'Contribution' section of your Smart Pension account.

You can also find out about the costs and charges that apply to the Smart Pension Master Trust by reading the Chair's statement, available in the 'About the scheme' section on the member website at www.smartpension.co.uk/member.

Does my annual pension statement show my state pension amount?

We don’t show any state pension you might be entitled to in your annual statement. You can check your state pension age and what your state pension might be worth by visiting www.gov.uk/check-state-pension.

What determines the retirement age used in my annual statement and how can I change this?

If you haven't selected a retirement age, we will use the scheme retirement age of 65 to calculate how much you could have at retirement. You can change your retirement age at any time, just sign into your account, click 'Funds' and 'Change retirement age'.

What happens to my pension savings if I die?

If you die before you take your pension savings, the trustees will decide who will receive this money. To help them make this decision, you should keep them updated on who you would like to benefit.

It’s quick and easy to nominate who’d you like to receive your pension savings, just sign into your account or app, click on ‘Account’ and ‘Expression of wish’

The trustees who oversee your pension savings will take your nomination into consideration when paying out your pension savings. 

They will also consider anyone who was financially dependent on you, your marital status and the terms of your will when making their decision. This means it's important to keep your expression of wish up to date (for example, if you marry, divorce, remarry or enter into a civil partnership).

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