Your Smart Pension and the State Pension
Your Smart Pension account is unlikely to have an impact on any State Pension you’re entitled to
National Insurance contributions count towards the State Pension
Auto enrolment encourages you to save money for the future. But while you remain in employment or are able to claim employment benefit, your National Insurance contributions and credits will be counting towards your State Pension.
As long as you’ve paid in enough National Insurance contributions (or received enough credits), you’ll be eligible to claim your State Pension when you reach the State Pension age. Or, if you want to, you may decide to ‘defer’ your State Pension, and put off claiming it for a year or more.
To learn more about the State Pension, visit GOV.UK and to find out more about auto enrolment, read our A guide to auto enrolment.
National Insurance contributions count towards the State Pension
Auto enrolment encourages you to save money for the future. But while you remain in employment or are able to claim employment benefit, your National Insurance contributions and credits will be counting towards your State Pension.
As long as you’ve paid in enough National Insurance contributions (or received enough credits), you’ll be eligible to claim your State Pension when you reach the State Pension age. Or, if you want to, you may decide to ‘defer’ your State Pension, and put off claiming it for a year or more.
To learn more about the State Pension, visit GOV.UK and to find out more about auto enrolment, read our A guide to auto enrolment.
When would you get the State Pension?
State Pension ages are set by the government. The current State Pension age is 66 and is set to increase in the future.
This means you may have a State Pension age that’s not the same as your Smart Pension retirement age. It gives you a chance to review your Smart Pension retirement age and decide if you’d like to stagger the point in time at which you start receiving money from those savings.
- update your retirement date with Smart Pension
- find out your State Pension retirement date on GOV.UK
When would you get the State Pension?
State Pension ages are set by the government. The current State Pension age is 66 and is set to increase in the future.
This means you may have a State Pension age that’s not the same as your Smart Pension retirement age. It gives you a chance to review your Smart Pension retirement age and decide if you’d like to stagger the point in time at which you start receiving money from those savings.
- update your retirement date with Smart Pension
- find out your State Pension retirement date on GOV.UK
Instant changes to your
pension savings
You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.
Instant changes to your
pension savings
You won’t need to check in on your pension savings every day. They're designed to be a long-term investment. But if you do need or want to get an update, then the secure Smart Pension makes it easy to get that information straight away. There’s no need to make a phone call or to wait for a letter.
Our app will give you real time information about your pension savings. It puts your future into the palm of your hand.
Smart Pension's fund choices
Smart Active Impact Bond Fund
Aims to invest in bonds which have an environmental impact and generate financial return above the global green bond market, taking into account Environmental, Social and Governance issues when selecting investments.
Smart Active Impact Equity Fund
The aim of this fund is to invest in equities which provide growth over the long term (being a period of five years or more) and invest in companies that contribute to the achievement of the United Nations’ Sustainable Development Goals.
Smart All Stocks Index – Linked Gilts Index Fund
Aims to track the return of the FTSE Actuaries British Government Index Linked All Stocks Index, which features UK government bonds with returns linked to the Retail Price Index (RPI).
Smart Annuity Fund
Aims to improve potential outcomes for investors likely to purchase fixed annuities by providing a diversified exposure to assets that reflect the broad characteristics of investments underlying a typical traditional level annuity product, incorporating Environmental, Social and Governance (“ESG”) considerations as part of the investment strategy.
The fund cannot provide full protection against changes in annuity rates for individual members as these also depend upon a number of other factors (e.g. changes to mortality assumptions).
Smart Cash Fund
Aims to maintain capital and provide a return in-line with money market rates by investing in a range of money market securities denominated in sterling.
Smart Ethical and Climate Fund
Aims to track a filtered index, which excludes companies that operate in industries that breach certain ethical criteria.
Smart Global Bond Index Fund
Aims to invest in different types of bonds in the UK and overseas, taking into account Environmental, Social and Governance factors.
Smart Growth Fund – Higher Risk
This fund carries a higher risk of fluctuation to your savings than other growth funds available but has the potential for high growth, though this is not guaranteed.
Smart Growth Fund – Lower Risk
This fund carries the lowest risk of fluctuation to your savings than other growth funds available but also reduced likelihood of a high return. It may be suitable if you are concerned about volatility.
Smart Income Fund
Aims to provide long-term investment growth up to retirement, and to support flexible income during retirement, taking into account Environmental, Social and Governance factors.
Smart North America Equity Index Fund
Aims to provide broad exposure to companies in the North American equity market, taking into account Environmental, Social and Governance factors.
Smart Sharia Fund
Aims to create long term appreciation of capital through investment in a diversified portfolio of securities which meets Islamic investment principles.
Smart Sustainable Growth Core
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas.
Smart Sustainable Growth Fund
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas to mitigate Environmental, Social and Governance risks and benefit people and the planet by having a moderate allocation to investments contributing to solutions for environmental and social issues.
Smart Sustainable Growth Plus
Aims to take advantage of Environmental, Social and Governance factors by investing more in companies which score well in these areas to mitigate Environmental, Social and Governance risks and benefit people and the planet by having a high allocation to investments contributing to solutions for environmental and social issues.
Smart UK Equity Index Fund
Aims to provide broad exposure to the UK stock market, taking into account Environmental, Social and Governance factors.
Smart World (ex UK) Developed Equity Index Fund
Aims to provide broad exposure to large and mid-cap companies in the developed world, excluding the UK, taking into account Environmental, Social and Governance factors.
Smart World Emerging Markets Equity Index Fund
Aims to provide access to key emerging economies taking into account Environmental, Social and Governance factors.
