Smart Pension has agreed to acquire the WS Stakeholder Pension Scheme, with the acquisition expected to see the group become the eighth largest defined contribution (DC) master trust in the UK.

This is the latest in a string of recent consolidations by Smart Pension, having already consolidated 10 master trusts, including the Crystal Master Trust, Ensign Master Trust, the Welplan Master Trust, the Corpad Master Trust and Corporate Pensions Trust.

The acquisition was highlighted as a "significant milestone" in Smart Pension's plans to hit £10bn in assets under management by H1 2026, marking the first of a new wave of potential consolidations, paving the way for further similar contract-to-trust consolidations.

The agreement has seen £580m in assets under management (AUM) transfer to the Smart Pension Master Trust, bringing Smart Pension’s total AUM to over £8.5bn and making it the eighth largest DC master trust in the UK.

Commenting on the acquisition, Smart UK CEO, Jamie Fiveash, said: “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 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.”

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