Auto enrolment provider Smart Pension (https://www.autoenrolment.co.uk) has been awarded a 5 star rating by independent research company Defaqto, it announced on Tuesday September 6th.
The five star rating, which is Defaqto's top score, was given for the firm's innovative and highly automated offering. It follows a detailed audit by Defaqto.
Smart Pension's advanced technology platform was one of the reasons it scored so highly.
It is one of the few platforms that guarantees to accept every employer and employee, a critical feature for thousands of small British firms looking to enrol in the Government's Workplace Pension initiative over the coming years.
Andrew Evans, CEO and co-founder of Smart Pension said: "This independent rating is a great big tick in the box for us because it demonstrates we've got the scale, stability and ease-of-access small firms in particular will need.
"Smart Pension's advanced functionality was specifically developed to cater for the smallest firms as they grapple with pensions, often for the first time. This high score also shows we are making good progress on our long-term ambition to be a key player in the market offering a service focused on smaller firms."
Richard Hulbert, Insight Analyst (Wealth), at Defaqto, said: "Receiving a Defaqto 5 star rating is not easy, we access over 50 facts looking at every aspect of the scheme from both the employer and the employee perspective. Only those schemes that provide the most comprehensive array of features and benefits and importantly do not restrict members due to their age or salary can achieve a quality five star rating.
"An employer selecting a 5 star rated auto enrolment pension scheme should gain peace of mind that it is one of the most comprehensive schemes available and is therefore most likely to meet the evolving needs of their workforce. It's also worth noting that Smart Pension's guarantee to accept every employer will save them a lot of time and effort in finding a suitable scheme."
See Who is Defacto? And what does a Defaqto Star Rating mean? for more information on Defaqto Star Ratings.
Last month Smart Pension announced it had taken over sponsorship of pension firm GenLife 's Master Trust.
Earlier this year Smart Pension brought in former Pension Protection Fund (PPF) delivery director Peter Walker to support the provider's growth and compliance with the Master Trust Assurance Framework (MAF).
*Review conducted by Lily Dart, a user experience designer with a public sector specialism and over 10 years experience.
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