Smart Pension has announced a five-year agreement with Amazon Web Services (AWS), as it looks to support the development of its retirement technology platform, Keystone.

Smart has used AWS’ cloud infrastructure since 2021 to scale support for its members across Europe, the US, and the Middle East. By expanding its use of AWS, Smart is expected to be able to launch Keystone across financial services enterprises in the Middle East, followed by any AWS Region globally in a "matter of hours". As part of the new agreement, Smart will also expand its use of AWS’s data analytics, machine learning, and cloud services to support innovative product rollouts that enhance the experience for employers, employees, and customers through the Keystone platform. Smart will also use AWS' solutions for real-time data processing, in order to provide customers with actionable insights into their pension performance, helping savers plan for their retirement, and build investment strategies. In addition to this, Smart will experiment with AWS’s generative AI services, including Amazon Q for Business.

Legal & General (L&G) has acquired The Place, Nottingham, on behalf of L&G's Institutional Retirement business.

The acquisition is expected to bolster its Student Living portfolio. The purpose-built student accommodation (PBSA) scheme, developed by MRP and constructed by McAleer & Rushe, completed in August 2024 and is currently in its first operational academic year. It is operated by Homes For Students under its Prestige Student Living brand, who will be retained as L&G’s preferred Operating Partner under the new ownership. Commenting on the investment, L&G head of annuity transactions, Neil Dovey, said: “We are delighted to continue to deploy capital and realise the L&G Student Living Strategy through this acquisition of The Place, Nottingham. Investing in direct-let PBSA assets forms an important part of our wider residential portfolio. The sector has demonstrated strong alignment to our strategic requirements and is supported by robust demographic tailwinds and supply/demand fundamentals.”

Aviva's streamlined bulk purchase annuity (BPA) service, Aviva Clarity, has reached its first year milestone, having completed transactions valued at over £1.5bn.

These transactions covered more than 80 schemes – with 24 schemes so far this year thanks to a "steady flow" of smaller schemes coming to market since the start of the year. Changes have been made in this time, as Aviva confirmed that it has used trustee and adviser feedback to evolve the Aviva Clarity service and improvements have translated to quicker timescales from initial quote through to buyout.

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