The bank’s UK wide network of 1,100 business relationship managers will introduce their business banking clients to Smart Pension via the Barclays website, where they will be able to follow a link to sign up.
Businesses that sign up through Barclays will be able to offer their employees access to the bank’s proprietary Global Market Funds, which invest in a range of asset classes and are managed by the same team of investment experts that look after the bank’s Wealth clients.
Once signed up, Smart Pension offers an online portal for both the employer and employee, so that individuals can manage their participation in the scheme. The portal can be integrated with other administrative programmes such as payroll, admin, reporting and compliance capabilities.
In 2020, the bank took a minority stake in retirement technology provider, Smart, as part of its Series C fundraising round to support its global growth, which includes entry into the US market.
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