When taking out a pension scheme, there is a participation agreement that must be signed. Signatories are those who sign the participation agreement for the pension scheme in the UK. This agreement is requested during the pension scheme creation in your Kota account and validates that the company is happy to work with Smart Pension and take part in the scheme. This document must be signed. If the agreement is not signed by the signatories, the scheme might even be created and active, but no contributions will be charged and invested in the pot.
Who can be a signatory?
Who can be a signatory?
The signatories are usually the directors of the company. Smart Pension requires 1/1 signatories if only one is available. If there are multiple signatories/directors, at least two signatories/directors need to be added to Kota, and must sign the Participation agreement.
How does the signature process work?
How does the signature process work?
When you're creating your UK pension scheme in your Kota account, you'll be requested to insert the name and work email address of the signatories. Once you input the signatories' email addresses, the first signatory will receive an email from Smart Pension, sent via Signable. They must sign the Participation agreement online using the link in that email.
In case there's more than one signatory, the second signatory's email will only be triggered after the first one signed it, and so on, until the signatory list is complete.
What does the Signable email look like?
What does the Signable email look like?
Subject: Smart has sent you a document to sign
Body:
Can we resend the email to the signatory?
Can we resend the email to the signatory?
Even though you cannot trigger this directly from your Kota account, we'll be able to do that on your behalf. Simply get in touch with us via chat or email ([email protected]) to submit this request.
If there is only one signatory on Kota's account, this will be straightforward.
If there are several signatories involved, resending an email in this sequence means all prior data is removed, and the signature process begins again for all parties. The process will restart from scratch and the first signatory will have to sign again.
What if a signatory is unable to use the Signable email to sign the agreement?
What if a signatory is unable to use the Signable email to sign the agreement?
All signatories listed in Kota's account would have received a welcome email from the Smart Pension platform, which contains their own login to Smart Pension's platform.
So, if the Signable link cannot be used, the signatory has a second option. They can log into Smart Pension from the welcome email, and sign the participation agreement. It will appear on the 'to-do list' on Smart Pension's home page, as below.
