Mature woman using a tablet

How Smart Retire


Pots with purpose

On the Smart Retire dashboard, you can put your retirement savings in up to four investment pots.

Two of the pots give a regular income – a flexible income for early retirement and a fixed income for later life. The other two are for inheritance and rainy days.

Using all the pots together can cover you throughout retirement, but you don't have to use all four of them.

You can take 25% of your savings as tax-free cash when you join.

A smartphone showing the four pots in Smart Retire

Your income pots

Two different income pots to meet your changing needs in retirement

Your savings pots

Life is unpredictable – use these for one-off withdrawals or to leave to loved ones

Take your tax-free cash

25% of your pension pot, free from tax

The government lets you take 25% of your pension savings as a tax-free lump sum. From 6 April 2023, you can take up to £268,275 as a tax-free lump sum. This is 25% of the standard lifetime allowance of £1,073,100. We’ll factor your decision in when showing how much you could have in retirement – and if you apply for Smart Retire, we’ll pay it directly to your bank account.

Bringing your money into Smart Retire

When you join, you’ll bring your money from Smart Pension into Smart Retire. Doing so is simple and we'll help you through the process.

If you have other pension schemes that you want to bring into Smart Retire, you’ll need to transfer them to Smart Pension first.

Once you've joined

At the moment, you can’t add more money to your Smart Retire account once you’ve joined. You or your employer might still be able to contribute to your Smart Pension account, though. Contact us if you have questions about this.

Leaving Smart Retire

We don’t charge to transfer your Smart Retire savings to another pension scheme.

Leaving money behind when you die

When you join, tell us who you'd like to receive your savings when you die. These people or organisations are called ‘beneficiaries’. You can update this information at any time.

When you die, your scheduled payments will be cancelled. We will then pay the money to your beneficiaries at the trustees' discretion.


If you become ill, there will be no automatic change to your account but you may want to rethink the way you have your pots arranged.

Apply in three simple steps

Discover how you could combine your retirement options with Smart Retire

We’re here to help

Have a question about Smart Retire? Our friendly UK-based team is here to help.

Simply send us a secure message using the Contact us button at the bottom of your screen and we'll reply as soon as possible.