1.0 Introduction

This authorised and MAF-accredited defined contribution (DC) master-trust, backed by multi-award winning fast-growth fintech company, is undertaking a recruitment exercise. Our Chair of Trustee is coming to the end of their term. The appointment will commence from 1 July 2025.

We welcome and encourage diversity here at Smart and applications are invited from all individuals, provided they meet the requirements of the roles as set out below.

2.0 Specifications

2.1 Background

Smart Pension Limited (SPL) operates the Smart Pension Master Trust (SPMT), a market leading pension solution designed and run to help employers provide a DC workplace pension savings vehicle for their workers.

Founded by experienced finance and technology professionals and initially designed to support UK businesses faced with the challenges of auto-enrolment, the business and savings platform has evolved into offering a much broader pension savings proposition, with thousands of satisfied employers, advisers and over a million employees using it.

The Trust is overseen by a corporate Trustee company whose board of directors is currently made up of a majority of non-affiliated independent trustees.

A vacancy on the board for a new Chair of Trustee has arisen due to the current Chair intending to step down.

We are looking for someone who has a high profile in the pensions industry and a strong engagement with policy and regulation. The preferred candidate will have a strong general background in UK pension provision, including a deep technical understanding of all aspects of DC pensions legislation and significant knowledge of developing current industry issues.

The successful candidate will need to agree to full exclusivity, with SPMT the sole DC master trust appointment.

2.2 Role requirements

Meeting attendance: the successful candidate will be required to attend quarterly Trustee board meetings. Each meeting generally lasts up to four hours (this is subject to requirement and can be longer if necessary). All meetings require preparation and follow-up work.

Other ad hoc meetings occur on a fairly regular basis. These include meetings with the Pensions Regulator, training sessions, meetings with the Funder/Strategist, to discuss the business plan etc., as the needs of the Scheme dictate. These are typically 2 hours long.

The successful candidate will also be expected to provide support to and work with the Sponsor to help SPMT grow in line with business plan targets.

Interim work: where possible, all required work and decisions will follow the cycle of Trustee and Sub-Committee meetings. However, there will be times where ‘out of cycle’ and ad-hoc projects arise and discussions and decisions are required. The successful candidate will be expected to be available to attend to these if necessary.

You may also be requested to meet service providers (including site visits), attend meetings with prospective clients, members and speaker events, acting as a representative of the Scheme.

Experience: a candidate with a high profile in the pensions industry and strong engagement with policy and regulation is desired. The preferred candidate will have a strong general background in UK pension provision, including a deep technical understanding of all aspects of DC pensions legislation and regulatory requirements and significant knowledge of developing current industry issues. Demonstrable experience of acting as chair of a trustee board, or having the ability and experience to take on this role would be highly advantageous. Specific experience of acting as a trustee of a master-trust or significant experience of working with master-trusts would be preferable, as would experience of acting on or working with Independent Governance Committees.

You should also have the ability and drive to integrate quickly with the Trustee and get up to speed with current issues and projects. You may be required to take the lead on certain projects.

Fitness and propriety: you should be aware of the elements of the ‘fit and proper’ test required under the master-trust authorisation and supervisory regime. An accredited external provider will undertake a review prior to you taking on the role, and on a regular basis whilst you act as a Trustee Director.

Location: the role is remote-based except for the quarterly main board meetings. These generally take place in our office in central London, close to mainline and underground ra links.

2.3 Remuneration

The remuneration for the role will be a market competitive rate that reflects the skills a expertise of the successful applicant.

The role will be for a fixed term of 3 years.

2.4 Deadline for applications

The deadline for applications is 14 March 2025.

Candidates should please share a CV and covering letter.

If you are applying on behalf of a professional trustee services firm, please contact us via email (recruitment@smartpension.co.uk) by February 2025 to express your interest and to request our Request For Information document.

Applications from interested parties will only be considered if received by this date.

We are seeking to make this appointment in July 2025.