Smart Pension
- Company typePrivate
- Founded2014
- HeadquartersLondon, United Kingdom
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Smart Pension does
Smart Pension is a UK workplace pension provider operating as a defined contribution master trust authorised and supervised by The Pensions Regulator. Founded in 2014 to address auto-enrolment compliance requirements, the company serves 100,000 employers and 2 million members with over £10 billion in assets under management and £1.6 billion in annual contributions as of June 2026. The platform is built on Keystone, Smart's proprietary global savings and investments technology that pioneered auto-enrolment administration and now underpins the Smart Pension Master Trust, the Smart Pension mobile application (250,000+ users), the Smart Retire drawdown facility, salary sacrifice arrangements, and member tools including the Pension Calculator, Life Expectancy Calculator, and Financial Wellbeing Hub.
The company monetises through monthly subscription-style scheme fees levied on employers and members, with member fees varying by investment choice. Distribution combines a direct digital sign-up model for employers, a self-serve employer portal with payroll integrations (BrightPay, MyPAYE, The Payroll Site), an adviser channel of accountants, IFAs, and payroll providers, and a member-facing app plus portal experience. Backing comes from a consortium of institutional investors including Aquiline, Barclays, Chrysalis Investments, DWS Group, Fidelity International Strategic Ventures, J.P. Morgan, LGIM, MUFG, and Natixis Investment Managers, with CIBC Innovation Banking leading a 2025 funding round of approximately $81 million.
Smart Pension firmographics
Firmographics- Name
- Smart Pension
- Legal name
- Smart Pension Limited
- Website
- https://smartpension.co.uk
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Ownership category
- akta.pro rank
Smart Pension industry classification
Industry- Product category
- Workplace Pension Master Trust
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Pension Funds (525110)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Digital Retirement Platforms (IRA/401(k), Pension & Decumulation) (FSAGAEAF)
- akta.pro secondary industries
- Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA), Employer Retirement Plan Advisory (401(k)/Pension) (FSAEABAE), Pensions & Retirement Benefits Administration (BPAIAKAA)
Keywords
Where Smart Pension is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Smart Pension business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Scheme Fees: Smart Pension charges fees to employers and members of the Scheme as determined under the Definitive Deed and Rules. Employer fees are set out on the Website and in the Employer Portal. Member fees are set out in the Member's Portal and vary according to investment choices made.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Employer scheme fees - varies by employer |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels8 records
Smart Pension product offering
Product offeringCore offering
Smart Pension provides workplace pensions as a defined contribution master trust for UK employers of all sizes. The service is powered by the proprietary Keystone technology platform, which streamlines scheme administration, payroll integration, and auto-enrolment compliance. Members access retirement savings management through a mobile app, online portal, and a suite of planning tools including calculators and a drawdown facility (Smart Retire).
Product overview
Smart Pension is a UK-based digital retirement savings provider offering a workplace pension as a defined contribution master trust for employers of all sizes. The core offering consists of the Smart Pension Master Trust, powered by the proprietary Keystone technology platform. Members access services through the Smart Pension App, which integrates with the Smart Retire digital drawdown dashboard for retirement income management. The product suite includes planning tools such as the Pension Calculator, Life Expectancy Calculator, and Financial Wellbeing Hub, all designed to help members understand and manage their retirement savings. Smart Pension also offers salary sacrifice arrangements and connects to the UK Pensions Dashboards Programme. The company serves 2 million savers across 100,000 employers with £10 billion in assets under management.
Differentiator
Problem solved
Functional benefit
Brands
- Smart Retire: Online drawdown facility where members can view investment values, submit fund switch requests, modify repeating monthly withdrawals, and request occasional lump sum withdrawals.
- Keystone
- Smart Labs
Products and services
- Smart Pension Master Trust A defined contribution master trust workplace pension scheme, authorised and supervised by The Pensions Regulator, providing retirement savings for employees of participating UK employers.
- Smart Pension App Mobile application enabling members of the Smart Pension Master Trust to manage their pension savings, view balances, change contributions and investments, and access retirement planning tools. Used by 250,000+ members.
- Smart Retire Digital drawdown facility where members approaching retirement can view investment values, submit fund switch requests, modify repeating monthly withdrawals, and request occasional lump sum withdrawals.
- Keystone Platform Smart's proprietary global savings and investments technology platform that powers Smart Pension and is also offered to financial institutions for pension management, enabling auto-enrolment, scheme administration, and cost reduction.
Quantifiable outcome
- £10 billion in assets under management, well ahead of 2030 government threshold
- +3 more outcomes
Companies that use Smart Pension
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
Smart Pension technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature5 records
Smart Pension partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered minor and core.
- Independent Governance Group (IGG)minorProfessional pensions trusteeship provider that co-commissioned research with Smart Pension and LCP on the gender and ethnicity pension gap affecting women from ethnic minority backgrounds.
- LCP (Lane Clark & Peacock)minorPension consultants who co-commissioned research with Smart Pension and IGG on the gender and ethnicity pension gap. Provided analysis and expertise on pension outcomes for women from ethnic minorities.
- Ctrl AltcoreTokenisation infrastructure provider that brings structuring and tokenisation expertise to the Tokenised Renewable Assets Coalition (TRAC). Collaboration to explore how blockchain-based tokenisation can integrate with existing pension investment frameworks.
- Octopus Energy GenerationcoreRenewables investor bringing strong experience in mobilising institutional capital into renewables. Part of the Tokenised Renewable Assets Coalition (TRAC). Smart Pension made a £330m investment in two of Octopus Energy Generation's renewable funds via the Mobius platform.
- Mobius Life LimitedcorePartnership to enhance Smart Pension's investment platform, expanding access for over 1.4 million members to public and private market options including net-zero transition support. Mobius Life manages, buys and sells investment assets for the pension scheme.
- Pensions Dashboards ProgrammecoreSmart Pension connected to the UK's Pensions Dashboards Programme, which allows retirement savers to view personal, workplace, and state pension data from all providers in one place. Jamie Fiveash, CEO expressed excitement about this collaborative initiative.
- UK Government and Pension RegulatorscoreParticipated in UK government-hosted roundtable with pension regulators including People's Pension, Aviva, Smart Pension, Legal & General, TPT Retirement Solutions, and NatWest Cushon to discuss forthcoming value for money consultation under the Pension Schemes Bill 2025.
- Mansion House Accord SignatoriescoreSmart Pension is one of 17 signatories to the Mansion House Accord, representing 90% of UK active DC savers. Committed to invest at least 10% of DC funds in private markets by 2030, with half allocated to UK assets.
- Q Agency (Managed Service Provider)minorQ Agency serves as Smart Pension's Managed Service Provider, providing expertise in digital transformation, scalability, security, and cost optimization. Partnership has spanned over six years.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Smart Pension competitors and assessment
Company assessmentDirect peers
- NOW: Pensions: UK master trust workplace pension provider focused on auto-enrolment compliance for employers. Comparable to Smart as a mid-sized digital-first master trust competing for the same employer base.
- NEST (National Employment Savings Trust): UK master trust established by government to support auto-enrolment, now serving tens of millions of members. Closest direct competitor to Smart in scale, structure, and target market (UK workplace DC pensions).
- The People's Pension (B&CE): One of the UK's largest multi-employer defined contribution master trusts serving millions of savers through auto-enrolment. Directly comparable to Smart Pension as a UK master trust workplace pension provider with a similar employer-led distribution model.
Emerging players
- Penfold: UK workplace pension fintech targeting SMEs and self-employed savers with a digital-first experience. Comparable to Smart as an emerging digital pension provider, though smaller and focused on the smaller-employer segment.
- PensionBee: UK pension consolidator and consumer-facing platform allowing individuals to combine old workplace pensions. Tangentially comparable as a digital pensions fintech, though focused on consumer transfers rather than employer auto-enrolment.
Broad incumbents
- Royal London: UK mutual life and pensions provider with workplace pension offerings. Comparable as a broad incumbent competing in employer-led DC pensions, though with a wider product range than Smart.
- Aviva: One of the UK's largest life and pensions incumbents offering workplace pensions alongside protection, investment, and broader employee benefits. Competes with Smart in employer pitches but from a vastly larger and more diversified platform.
- Aegon UK: UK arm of Aegon offering workplace pensions and platform-based DC administration. Comparable to Smart in targeting employer-sponsored DC schemes, but with broader legacy and platform capabilities.
- Scottish Widows: Established UK workplace pension and investment provider owned by Lloyds Banking Group. Competes with Smart in the mid-to-large employer segment as an incumbent with embedded distribution.
- Legal & General: Major UK pensions and investment manager with substantial workplace DC and master trust offerings. Overlaps with Smart's target market as a broad incumbent and is also an investor in Smart Pension.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Smart Pension social profiles
Digital presenceSmart Pension compliance and trust
Trust signalCompliance4 records
Smart Pension financial estimates
Financial estimateRevenue estimate
Valuation estimate
Smart Pension leadership team
Management profileNumber of profiles
Profiles6 records
Smart Pension subsidiaries and ownership
Company hierarchySubsidiaries1 record
Smart Pension funding detail
Funding detailFunding overview
Funding rounds1 record
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Smart Pension M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Smart Pension
What does Smart Pension do?
Smart Pension provides workplace pensions as a defined contribution master trust for UK employers of all sizes. The service is powered by the proprietary Keystone technology platform, which streamlines scheme administration, payroll integration, and auto-enrolment compliance. Members access retirement savings management through a mobile app, online portal, and a suite of planning tools including calculators and a drawdown facility (Smart Retire).
Is Smart Pension a public or private company?
Smart Pension is a private company. It is classified as venture growth investor backed and is currently operating.
When was Smart Pension founded?
Smart Pension was founded in 2014. It employs 501 to 1,000 people.
Where is Smart Pension based?
Smart Pension is headquartered in London, United Kingdom, in the Europe region.
How does Smart Pension make money?
One revenue line is on record: scheme Fees.
Who are Smart Pension's main competitors?
Direct peers on record are NOW: Pensions, NEST (National Employment Savings Trust) and The People's Pension (B&CE). Emerging players are Penfold and PensionBee. Broad incumbents are Royal London, Aviva, Aegon UK, Scottish Widows and Legal & General.
Does Smart Pension have an API?
No public API is recorded for Smart Pension.
What industry is Smart Pension in?
Smart Pension's product category is Workplace Pension Master Trust. Its primary akta.pro industry code is FSAGAEAF, Digital Retirement Platforms (IRA/401(k), Pension & Decumulation), with a secondary code of FSAAAGAB, Pension Master Trusts, Superannuation & Provident Funds. Its NAICS code is 524292 and its SIC code is 6199.