Smart Pension has acquired the WS Stakeholder pension scheme from Waystone Management (UK) Limited.
The WS Stakeholder Pension Scheme has transferred around 19,000 members and £580 million in assets under management (AUM) to the Smart Pension Master Trust. It marks a contract-to-trust consolidation and increases Smart Pension’s total AUM to over £8.5 billion, making it the eighth largest DC master trust in the UK.
Smart Pension has previously consolidated 10 master trusts, including the Crystal Master Trust, Ensign Master Trust, Welplan Master Trust, Corpad Master Trust, and Corporate Pensions Trust.
The company projects AUM could exceed £10 billion in the first half of 2026, driven by further consolidations, including the expected transfer of members and assets from Options Master Trust.
Smart UK CEO Jamie Fiveash says: “This latest deal is a significant milestone in our growth strategy and consolidation efforts. It’s further proof of how our technology enables us to consolidate schemes of all types across trust and now contract based pensions. We are delighted to welcome our new members, who will now benefit from the simplicity and flexibility that our market-leading technology brings to workplace savings.
“We now have over £8.5bn bn AUM and we will achieve a £10bn AUM milestone in the first half of next year through secured acquisitions, new business and member regular contribution flow. This, alongside a rapidly changing and consolidating market, makes us incredibly excited for the years ahead.”
