Smart Pension has completed the £650m transfer of assets from Options Workplace Pension Trust, bringing its total AUM to just over £9.3m.
This is one of the largest master trust to master trust consolidations this year, with the transfer delivered through Smart’s proprietary Keystone platform.
This latest consolidation comes just weeks after Smart Pension announced that it had acquired the WS Stakeholder Pension Scheme, from Waystone Management. Smart says the acquisition of this stakeholder scheme, by a DC master trust, was the first of a new wave of potential consolidations and paves the way for further similar activity in the market.
Employers and members who were previously with Options Workplace Trust now have access to Smart’s app and all associated benefits. This includes efficient contribution management for employers and advisers.
This acquisition is the latest in Smart Pension’s consolidation strategy, which now includes 10 former master trusts including the Crystal Trust, Ensign Master Trust, the Welplan Master Trust, the Corpad Master Trust and Corporate Pensions Trust.
Smark UK CEO Jamie Fiveash descrived this an an “important milestone”. He adds: “With assets now nearly at £10bn, and positive regular contribution flows of £1.6bn per annum, we are on track to achieve the scale target of £25bn well before 2035, based on organic growth alone.”
“The Master Trust has grown in excess of 30 per cent per annum for some years now. In 2026 we expect this to be no different, with strong momentum in both AUM and membership, and a healthy pipeline of opportunities. As we grow, our focus remains on delivering outstanding value for savers and providing employers with a dependable, modern pension experience.”