01 September 2016
The advanced technology pension platform, which recently announced investment from Legal and General Investment Management (LGIM) says the decision was made to appoint the consultancy firm, which acts for a wide range of private and public sector schemes - including 15 per cent of FTSE 350 firms with a DB scheme - to cement Smart Pension's position as a leading player in the auto enrolment marketplace.
Andrew Evans, co-founder and CEO of Smart Pension, said: 'We have built the most efficient auto enrolment platform in the market which has made it affordable for hundreds of thousands of SME employees to start saving for their retirement.
"Working with an established adviser such as Barnett Waddingham brings specialisation in high quality trustee consultancy around compliance and funding and investment strategy, and is another step towards ensuring Smart Pension's offering is second to none now and into the future."
Peter Walker, chief operating officer at Smart Pension, said: "With expectations of operations and compliance standards continuing to rise, as always Smart Pension is ahead of the game. Working with Barnett Waddingham means we'll be more than ready for new regulations as they are introduced."
New regulations to ensure trustees of auto enrolment master trust are properly qualified as well as new capital adequacy requirements are expected to form part of the Pensions Bill, due in the Autumn, whilst the Master Trust Assurance Framework (MAF) and the new DC Code from the Pensions Regulator continue to raise standards for operations and governance.
Alex Pocock, Partner and Head of DC Investment at Barnett Waddingham LLP said: "I am excited to be working with the trustees and the wider Smart Pension team in ensuring strong investment governance and a robust investment strategy. Smart Pension represents another excellent client win for our rapidly-growing DC practice, and I am particularly pleased to be able to add another master trust to our client portfolio."
About Barnett Waddingham
Barnett Waddingham LLP is the UK's largest independent provider of actuarial, administration and consultancy services. The firm works with corporates, trustees and individuals in both the private and public sector, offering clear advice and a full range of professional advice including trustee consulting, employer pensions and risk management advice, pension scheme management and administration, investment strategy, public sector pensions, risk benefits, life and general insurance consulting as well as the provision of SIPPs, SSASs and specialist executive pension plans'.
The firm has grown steadily since its inception in 1989. There are currently 65 partners and over 830 staff, based in 7 locations around the UK (Amersham, Bromsgrove, Cheltenham, Glasgow, Leeds, Liverpool and London). Barnett Waddingham is also the UK representative of GLOBACS, the global network of independent consulting firms.
Notes to editors
ABOUT SMART PENSION:
Smart Pension is a MAF-accredited online auto enrolment provider. Its platform was built specifically to help thousands of small British businesses sign up their employees to a workplace pension scheme, as required by law. Smart Pension was co-founded in 2014 by Andrew Evans, CEO, and Will Wynne, Managing Director, and launched in May 2015. Its Master Trust is overseen by professional trustees with decades of experience supervising large pension schemes. Smart Pension has partnered with Apex Fund Services, one of the world's largest independent fund administrators, to securely and cost-effectively administer employees' pensions. Smart Pension has a 5 star rating from Defaqto in the auto enrolment category. Smart Pension is the fastest auto enrolment platform on the market to sign up with and advisers and employers can use it for free - there are no upfront or ongoing charges for companies or their advisers. LGIM took a minority stake in the digital pension platform in 2016, part of a move by LGIM to invest in high-achieving, innovative technology that has a positive impact on the wider UK economy. www.AutoEnrolment.co.uk