Important information


Smart Pension

We have a commercial interest in Smart Pension.

The information provided by Barclays Bank UK PLC on these Smart Pension partner web pages is for general information purposes only. All information is provided in good faith and the reference to Smart Pension’s pension scheme set-up for employers to automatically enroll their employees in a workplace pension scheme with them does not constitute an endorsement or recommendation of Smart Pension by Barclays Bank UK PLC.

Barclays Bank UK PLC will act as a non-regulated introducer to introduce SMEs to Smart Pension which is a separate legal entity to Barclays Bank UK PLC. Barclays Bank UK PLC’s role as an introducer is not covered by the Financial Ombudsman Service, Financial Services Compensation Scheme or Financial Conduct Authority Conduct of Business Sourcebook rules. We have a 3.6% equity stake in Smart Pension and an observer seat on their board.

If you register for this service, the pension scheme will be provided and administered by Smart Pension and you will be asked to accept their terms and conditions and operations. Smart Pension does not apply any charges to employers. However, employers will still need to contribute into employee pensions. 

As members of the scheme, employees will need to pay charges to Smart Pension to cover the cost of managing their savings. All auto-enrolment schemes, alongside any variety of investments they offer, are required to have a default investment arrangement for employees who do not make a choice. The charges for the default investment arrangement are 0.45% + £1pcm

Other Barclays entities involved in this proposition

  • Barclays Investment Solutions Limited, which acts as appointed manager of Barclays Wealth Investment Funds (UK) – Barclays Wealth Global Markets 1-5, the sub funds used within the default investment option for introduced SMEs, which is added to the list of existing Smart Pension fund managers. Employees of introduced SMEs will have the ability to choose from the other available investment options
  • Barclays Asset Management Limited, which acts as the appointed management company of Barclays Wealth Investment Funds (UK) – Barclays Wealth Global Markets 1-5, the sub-funds used within the default investment option

There is no direct fee paid to Barclays Bank UK PLC for introductions, however, there is a profit sharing arrangement between the Barclays entities and Smart Pension.

Data may be shared between Smart Pension and Barclays Bank UK PLC for the purpose of registration along with administration and tracking of this service.

You’ll need to tell Smart Pension about any support requirements you have

Unfortunately, because of data protection legislation, we can’t give Smart Pension information about any existing support requirements that you’ve told us about.

To make sure you get the support you need, you’ll need to tell Smart Pension about any requirements you have after you’ve been referred. 

Unless employers are authorised by the Financial Conduct Authority, they should not give financial advice to their employees. Alternatively, they could suggest that employees seek advice from an authorised financial adviser or their pension scheme provider.

Contributions into auto-enrolment schemes are not protected by the Financial Ombudsman Service and the Financial Services Compensation Scheme.

Selecting ‘I Agree’ means you are agreeing to the above disclaimers and information. You will be taken to the Smart Pension website to continue your application.