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This week’s most read stories included potential changes to income tax on inheriting pension pots, a new master trust with Smart Pension, and the USS consultation on its 2023 actuarial valuation.
Smart Pension has agreed to buy Evolve Pensions, the parent of Crystal Master Trust.
The UK’s Smart Pension has grown to £4bn after acquiring Crystal Trust and its Evolve Pensions. Operating since 1988, Evolve was an independently owned company managing core services essential for pensions, including DC administration, consultancy, and secretariat services. Crystal Trust has 128,000 members and £750 million in assets. The acquisition brings a computer system called…
Smart Pension acquired Evolve Pensions along with its defined contribution multiemployer plan Crystal Trust.
Top workplace pension firm Smart Pension has snapped up a peer with some £750m in funds under management amid calls for consolidation in the sector.