Smart Pension

Smart Pension
Type of site
 Limited liability company
Founded 2014
Headquarters London, UK
Founder(s) Andrew Evans, William Wynne
Industry Finance
Products Pension Scheme
Slogan(s) Fast. Secure. Free.

Smart Pension is a defined contribution master trust pension scheme setup for UK employers to automatically enrol employees in a workplace pension scheme that meets the required legislative standards.[1]

Smart Pension uses Apex Fund Services, a global independent fund administration company, to manage all transactions with investment management strategy handled by Lewis Capital Management.

The standard smart pension service is free to use for employers but will indirectly charge the scheme member. Smart Pensions have a members' annual management charge (AMC).

Background

The Pensions Act 2008 is an Act of Parliament of the United Kingdom. The principle change brought about by the act is the requirement for all employees to have to opt out of a workplace pension scheme, rather than opt in. This change in law moves a significant portion of responsibility onto employers in the UK to ensure that they are providing a workplace pension scheme for all eligible employees.[2]

Employers are required to initiate automatic enrolment into their workplace according to set staging dates based on the number of employees in the company. These dates vary from 1 January 2012 to 1 January 2017,[3] and there are penalties for companies who do not comply.[4]

Smart Pension Board Members

Chief Executive Officer: Andrew Evans
Evans has held a number of Managing Director roles in UK banks, in pensions, banking and asset management. His banking resume includes Lloyds Banking Group, Barclays, Caixa Geral de Depósitos & Crédit Agricole

Managing Director: William Wynne
Wynne had a successful career in the City before moving online in 2004 to join eBay in a senior management position. In 2006 Wynne went on to found Arena Flowers.[5]

Chief Operating Office: Peter Walker
Peter has more than 30 years’ experience in financial services, including setup of Coutts Bank in Asia, and COO roles in Kleinwort Benson and the Pension Protection Fund.

Non-Executive Director: Tom Valentine
Valentine is the co-founder and Managing Director of ecommerce travel company Secret Escapes.[6]

Board Adviser: Amy Nauiokas
Nauiokas is the founder and CEO of Archer Gray,[7] a media production, finance, and investment company, and the founder and president of Anthemis Group,[8] the digital financial services investment and advisory firm. Until 2008, she was the CEO of Barclays Stockbrokers.

Board Adviser: Emma Davies
Davies is Head of Property and Infrastructure Investments at Wellcome Trust. Prior to joining Wellcome Davies previously ran the London office of Perry Capital, one of the world's leading hedge funds, before helping to set up Big Society Capital.[9]

Board Adviser: Duncan Howorth
Former CEO of Jardine Lloyd Thompson PLC[10]

See also

Automatic Enrolment, section in wikipedia article Pensions in the United Kingdom
Pensions Act 2008
United Kingdom labour law
The Pensions Regulator
Arena Flowers
Matthew Hancock
National Employment Savings Trust

References

  1. ↑ The Pension Advisory Service
  2. ↑ Employers' obligations regarding workplace pensions on www.gov.uk
  3. ↑ Staging dates for automatic enrolment on National Association of Pension Funds website
  4. ↑ Penalties for late compliance to automatic enrolment on The Pensions Regulator Website
  5. ↑ Arena Flowers website
  6. ↑ How We Made It: Troy Collins, Alex Saint and Tom Valentine of Secret Escapes, The Sunday Times, 9th February 2014
  7. ↑ Amy Nauiokas, Archer Gray
  8. ↑ Amy Nauiokas, Anthemis Group
  9. ↑ Emma Davies joins Wellcome Trust, wellcome.ac.uk, 5th June 2013
  10. ↑ Duncan Howorth joins board.
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