The Smart Pension Adviser Platform - Detailed Information

The Adviser Platform has been designed for accountants, bookkeepers, payroll bureaus and payroll software providers, HR, independent financial advisers and other advisers to manage a portfolio of clients through auto enrolment. Using our Adviser Platform, you can either simply sign your clients up and then leave them to it, or actually manage their pension for them, including processing the ongoing assessment & communications.

Why choose the Smart Pension Adviser Platform?

Fast - the fastest, easiest to use platform available:

  • The Smart Pension platform was built from the ground up for auto enrolment using advanced technologies and has been independently tested against rival offerings. The Smart Pension platform is rated as the most efficient platform available.
  • Our platform uses Pensions Regulator compliant calculations to automatically assess employee eligibility, generate statutory communications and maintain records of your clients for any future audit.
  • Employee & payroll data can be uploaded in bulk, or via a number of payroll integration options (Smart Pension supports: bespoke payroll imports/reports, PAPDIS imports/reports, pension sync integration and integrations directly with our proprietary API).
  • If you already use (or wish to use) other providers (eg payroll or middleware) to carry out certain functions (eg assessment or employee comms) we can still accept data and contributions simply and without cost.
  • The Smart Pension Adviser Platform allows you and your team to easily manage multiple clients securely and independently. We will be releasing additional bulk upload tools in early 2016 as well as agent permission levels to allow greater flexibility as to who has access to what data and to allow multiple advisers to work on the same account (eg payroll bureau and IFA) without seeing the same data.

Secure - Legal & General funds, 5 star Defaqto rating, out performing investment advice:

  • The entire Smart Pension proposition is overseen by independent trustees. Our chair of trustees, Claire Altman (also a BlackRock Trustee), said:

Claire Altman,
Chair of the Board of Trustees

Smart Pension's experienced and innovative team has built a robust workplace pension from the ground up. In taking advantage of the most up to date technology they have designed a new concept of master trust to scalably meet the needs of UK businesses, ensuring the highest levels of compliance with UK regulations and targeting best available outcomes for employee members in later life.

Click here to see Claire Altman's linkedin profile.

  • Our auto enrolment proposition is rated 5 stars by Defaqto's independent rating service.
  • Members' pension funds are invested in Legal & General underlying funds. Legal & General is one of the world's largest investment houses with over a trillion of funds under management.
  • Performance of our investment adviser in the last five years has beaten FTSE 100 performance, every year.
  • Our pensions administration partner, Apex Funds Administration, handles thousands of transactions a day and has $45bn of assets under administration.
  • Our independent board of trustees and the AutoEnrolment.co.uk Master Trust are regulated by The Pensions Regulator. Our investment advisers and our pensions administrators are regulated by the Financial Conduct Authority ("FCA").
  • The Smart Pension platform uses cutting edge technology (including two factor authentication, 100% encrypted data transfer, secure messaging, automated scaling and multi-zone back up on the world's largest web services platform) to ensure that all data is protected, secure, backed up and able to scale automatically.

Free - the best value for money option for your clients:

  • Our adviser platform is free for advisers and agents to use and allows advisers to manage as much or as little of the auto enrolment process as they and their client wish them to. Advisers are free to charge their clients for managing their workplace pension through our platform.
  • Smart Pension makes money by charging a small assets under management charge (0.75%) which in year one for the average employee salary is £1.50. Unlike many other providers, we do not charge "transaction" fees or other hidden fees that can increase up the percentage cost to employees into the high teen percentages or above.
  • We additionally allow flexibility in set up (for example, employee groups (eg long serving employees vs newer joiners), early staging and / or contributions based on "unbanded earnings" for all or a subset of employees) and access to our API all for no charge.
  • Smart Pension has a long term view on the workplace pensions market. We are not interested in maximising short term fees from SMEs and their employees, unlike many of our competitors. We are interested in investing in the future development of UK workplace pensions market and helping grow it for a sustainable future.

Benefits

  • All advisers and agents can sign up employer and delegate access to employer to administer payroll (company still has to sign the agreement). Let your accountant/Payroll Bureau/Bookkeeper/IFA/work for you.
  • (this is important as NEST see investing in a pension as investment advice. Therefore NEST only allow IFAs to sign up to adviser portal, as they are regulated by the FCA.)

Payroll Bureaus

  • Employee payroll data can be uploaded via an automated API that speaks directly to the payroll software, or in a single bulk .csv file or Excel template at each payroll period. So it does not matter what software or spreadsheet you use to manage your clients payroll, our system will make it easy for you to send us the regular employee payroll data files.
  • If your payroll software already does the assessment & communications the Adviser Platform will accept employee contributions data files without duplicating the assessment & communication process.
  • API electronic upload to connect to payroll software to help upload contributions. Coming soon - bulk client upload for Batch processing multiple employer uploads.
  • Submit pension contributions in direct unison to a Full Payment Submission to HMRC. No learning new complex rules, just follow what you know with the revenue.
  • Use PAPDIS to upload payroll contribution to the Smart Pension system from your payroll provider.

Accountants

As an accountant, giving good advice to your clients is a key responsibility. Advising clients on their selection of workplace pension is no different. The good news is that by recommending Smart Pension to your clients you will be providing excellent advice to your clients.

  • Employee payroll data can be uploaded via an automated API that speaks directly to the payroll software, or in a single bulk .csv file or Excel template at each payroll period.
  • If the Accountant's payroll software already does the assessment & communications the Adviser Platform will accept employee contributions data files without duplicating the assessment & communication process.
  • API electronic upload to connect to payroll software to help upload contributions. Coming soon - bulk client upload for Batch processing multiple employer uploads.
  • Submit pension contributions in direct unison to a Full Payment Submission to HMRC. No learning new complex rules, just follow what you know with the revenue.
  • Use PAPDIS to upload payroll contribution to the Smart Pension system from your payroll provider.
  • Adhoc Contributions: individuals or employers may want to pay additional voluntary contributions into their workplace pension. This is made possible with our adviser platform. An employee's Annual Allowance is the following - 2015/16 @ £40,000-. If more than this is contributed to the pension scheme, then the extra money will not receive government tax relief.

Bookkeepers

  • Employee payroll data can be uploaded via an automated API that speaks directly to the payroll software, or in a single bulk .csv file or Excel template at each payroll period. So it does not matter what software or spreadsheet you use to manage your clients accounts, our system will make it easy for you to send us the regular employee payroll data files.
  • If Bookkeeper's payroll software already does the assessment & communications the Adviser Platform will accept employee contributions data files without duplicating the assessment & communication process.
  • API electronic upload to connect to payroll software to help upload contributions. Coming soon - bulk client upload for Batch processing multiple employer uploads.
  • Submit pension contributions in direct unison to a Full Payment Submission to HMRC. No learning new complex rules, just follow what you know with the revenue.
  • Use PAPDIS to upload payroll contribution to the Smart Pension system from your payroll provider.

IFAs

  • Independent financial advisers who offer a full auto enrolment service can manage their clients' entire auto enrolment obligations in one place from sign up , set up, ongoing assessment, contributions calculations, contributions by direct debit and compliant communications direct to employees, whilst maintaining full records.
  • If the independent financial adviser's payroll software already does the assessment & communications the Adviser Platform will accept employee contributions data files without duplicating the assessment & communication process.
  • IFAs like the ability to see what is going on and manager the pension, but will not involve themselves in the administration of the pension. Our adviser platform allows:
  • Delegated authority to set up clients on system
  • Multiple user permissions for your team as well as clients
  • Choose the Pensionable Earning definition for each employing entity. IFAs especially like it as have even more control: Qualifying Earnings, total gross QE (unbanded), Certification - tier 1, tier 2 tier 3.
  • Benefit of unbanded is that the employer does not have to do certification calculations (although IFA may offer as a service).
  • Adhoc Contributions: individuals or employers may want to pay additional voluntary contributions into their workplace pension. This is made possible with our adviser platform. An employee's Annual Allowance is £40,000. If more than this is contributed to the pension scheme, then the extra money will not receive government tax relief.

Get Started Now

Get compliant in minutes.