This transfer, pending approval by The Pensions Regulator, is set to move up to £545million in Assets Under Management (AUM) to the Smart Pension Master Trust. More than 300,000 OWPT members, along with their employers, will gain access to Smart Pension’s platform, benefiting from its efficiency, expertise, and user-friendly app that allows easy management and control of pension contributions.

This transfer, combined with the recent integration of assets from the Crystal Master Trust in August, will increase Smart Pension’s total AUM to £6billion. This marks the company’s tenth consolidation of a master trust, underscoring its growing role in the consolidation landscape of the master trust market.

Jamie Fiveash, CEO of Smart UK, said: “This latest deal is a significant milestone in our growth strategy and consolidation efforts. It’s further proof of how technology can deliver better value for savers and increased efficiencies for employers.

“In the coming months, we will be working together with the Options Workplace Pension Trust to ensure a smooth transition of members and their assets into the Smart Pension Master Trust. We look forward to welcoming our new members, who will now benefit from the simplicity and flexibility that our market-leading technology brings to workplace savings.”

Alan Kentish, CEO of STM Group, said:‍ “For some time, we’ve been impressed by Smart Pension’s globally-recognised technology platform and the company’s dedication to member engagement. We’re confident that these create a seamless and successful transition for members to the Smart Pension Master Trust, ensuring our members are in the best of hands for the future.”

Smart Pension is a fintech company based in the UK that focuses on providing workplace pension solutions. Founded in 2014, Smart Pension aims to make auto-enrolment and pension management easier and more accessible for employers and employees, particularly in the small to medium-sized business sector.

The company offers a digital platform that simplifies the process of enrolling employees into pension schemes, managing contributions, and ensuring compliance with regulatory requirements. Smart Pension is known for its use of technology to streamline pension administration, offering features like a mobile app for members to manage their pension savings and tools for employers to handle payroll and contributions efficiently.