The Smart Pension Master Trust

We run a master trust, which allows us to offer Smart Pension to Workplace customers who can't or don't want to run a pension scheme themselves. The Smart Pension Master Trust is authorised by The Pensions Regulator, and is overseen by a fully independent and non-affiliated board of trustees. So it's a secure option for your employees' pension savings. We take the security and safety of our member's pension funds very seriously. All funds are overseen by independent trustees, experienced administrators and professional investment managers.

Why choose the Smart Pension Master Trust?

The Smart Pension Master Trust offers a range of benefits for both you and your scheme members.

Lower your costs and risks

We manage the administration and investments of your scheme on your behalf – saving you time and resources. Our master trust is built to scale. This can mean lower scheme member charges, which reduce the costs of providing pension schemes, and increase value for money.

Good governance

Our independent, impartial and non-affiliated board of trustees have a legal duty to put members first. Master trust authorisation by The Pensions Regulator ensures we meet stringent quality standards and provide members with strong protection. We take away the burdens of governance that come with running a scheme, such as administration tasks and reporting.

If you'd like to move your employees to the Smart Pension Master Trust, we can replace your existing workplace pension provider. For employers currently running their own pension scheme, we also offer a consolidation option.

Our approach to investments

Dynamic and diversified

We want to grow members’ savings, so we invest in a diverse range of assets across different markets. We review the assets we invest in often, and make changes over time to get the best possible outcomes.

Balancing risk and return

With our default investment strategy, we invest in funds that provide long-term growth for members in the earlier years of their working life. As retirement approaches, we move investments into more stable, lower-risk assets.

Socially responsible

Members can choose to invest in one of our socially responsible funds:

The Smart Future Fund invests in companies based on their environmental, social and governance (ESG) impact.

The Smart Ethical Global Equity Index Fund invests in companies that meet certain ethical criteria.

The Smart Sharia Fund complies with Islamic investment principles.

Partnering with market leaders

Most of our investments are managed by Legal & General Investment Management (LGIM), one of the largest global fund managers. We use LGIM’s investment platform to design the investment options. This gives us greater flexibility, and allows us to benefit from their size and market-leading infrastructure.

Our funds

There are three model strategies for members to choose from – depending on the level of risk they're willing to accept, and how they want to use their pension savings when they retire. If members would rather choose and manage their own investments, we also have 16 self-select funds – including Shariah-compliant and ethical funds.

For more information on our model strategies and funds, see our investment guide (PDF).


Our board of trustees oversees the Smart Pension Master Trust and looks after members' savings. They're fully independent and non-affiliated with Smart. Between them, they have decades of experience in overseeing large pension schemes.

Find out more

Contact us

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If you're a member and would like to learn more about how coronavirus will affect your pension savings, read our latest article here.