Revolut partners with workplace pension provider for business customers

Workplace pension provider Smart Pension has partnered with Revolut to provide a unique retirement savings solution for its consumers.

The collaboration will allow European companies that sign up for Revolut’s business account to set up a workplace pension for their UK employees ‘almost instantly’.

The announcement follows the recent news that Revolut’s business customers with local GBP account details can now set up direct debits to automate the payment of regular bills and expenditure including monthly pension contributions.

Will Wynne, Smart Pension’s co-founder and MD, said: “Revolut shares our passion for using technology to make life easy for people.

“Revolut’s business account can now be used by employers across Europe to automatically pay into a workplace pension for their UK workers without hidden fees.

“We are excited to be opening up our tech-enabled, value-for-money workplace pensions to Revolut’s business customers.”

The new feature will see Revolut for Business customers that sign up before April 30 2020 get an introductory offer to include a promotional discount off members’ fees.

“Our new partnership with Smart Pension makes it easy for our business customers to meet auto enrolment requirements for eligible members of their companies.

“Not only can account holders take advantage of this preferential rate from Smart Pension, but they can set up both a business account and get pensions up and running in minutes,” added Vaidas Adomauskas, head of business product at Revolut.