Smart is an arrangement to pay your pension contributions through ‘salary sacrifice’.

It stands for ‘save money and reduce tax’. It’s a method used by many organisations to deliver savings in National Insurance to their employees and the business.

You ‘sacrifice’ the part of your pay that is equivalent to your pension contribution and the Company pays this amount into the Scheme on your behalf. As this reduces your pay, your National Insurance contributions are lower, and it means that your take-home pay increases.

The majority of Scheme members pay contributions through Smart. You can opt in or out of Smart at any time. There’s more information about using Smart in our Smart Guide.

If you want to pay your contributions through Smart, please contact the Scheme administrator, XPS Administration