Moneybox Pension Funds & Fees
At Moneybox we believe in keeping things simple and completely transparent.
Here's everything you need to know about what you'll pay with a Moneybox Personal Pension.
Moneybox Funds
We want you to feel confident about how your money is invested from day one. That's why when you open or transfer a pension to Moneybox, you can invest in one of our three Moneybox Funds (our defaults) or choose from a wider range of third-party funds.
Our Moneybox Funds are managed by Amundi - Europe's largest asset manager, and designed to match your risk level and stage of life.
Adventurous
Higher risk for potentially higher returns. It may suit you if you’re further away from retirement age.
Balanced
Balanced weighting on risk and return. It may be suitable if you’re starting to approach retirement age.
Cautious
The risk is low, but so are the potential returns. It may be suitable if you’re almost at retirement age.
Moneybox Funds fees
No matter which Moneybox fund you choose, your fees stay exactly the same. Your total pension cost comes down to just two things - our service fee and the fund charges. Simple, transparent and nothing unexpected.
Moneybox funds (Pension default option) | |
|---|---|
Service fee | 0.15% (capped at £150 a year) |
Fund fee | 0.29% |
For example, if you had £10,000 invested in Moneybox funds, you would pay £44 a year in fees (assuming no growth or withdrawals). That £44 is calculated as £15 for the 0.15% service fee, plus £29 for the 0.29% fund fee. Funds from other providers are also available, with higher service fees and fund fees set by each provider.
Other providers' funds
We want you to feel in control of how your money is invested. As well as our carefully chosen Moneybox Funds, you can also choose from other providers' funds to build a custom allocation that works for you.
Global Shares
Shares | Fund fee 0.12% (transaction costs also apply.)
Track the global stock market with shares in more than 1,600 companies like Apple and Amazon.
Global Health & Pharmaceuticals Shares
Shares | Fund fee 0.31% (transaction costs also apply.)
Champion the healthcare sector by investing in companies like Johnson & Johnson and Pfizer.
Islamic Global Shares
Shares | Fund fee 0.62% (transaction costs also apply.)
Follow the principles of Islamic finance by excluding industries such as alcohol and tobacco.
Other providers' funds fees
If you go with other providers' funds, slightly different fees apply - here's the full breakdown.
Other providers' funds | |
|---|---|
Service fee | 0.45% (no annual cap) |
Fund fee | Set by the provider |
For example, if you had £10,000 invested in Fidelity Global Shares, you would pay £57 a year in fees (assuming no growth or withdrawals). That £57 is calculated as £45 for the 0.45% service fee, plus £12 for the 0.12% fund fee.
You may also want to consider other features, such as the investments available or options to withdraw at retirement.
Pension FAQs
The questions people ask most often before opening a Moneybox Personal Pension.
What is a pension?
The Moneybox Pension is a personal pension that puts you in control of your retirement savings. You can choose how your money is invested from our range of our expertly curated funds, or pick from a choice of global or socially responsible tracker funds. You can pay in regularly or as a lump sum, and the government adds tax relief on top of your contributions.
Who can open a pension?
You can open a Moneybox Personal Pension if you're a UK resident aged 18 or over with a National Insurance number. Tax relief on contributions stops at age 75.
What if I have a workplace pension?
You can open a Moneybox Personal Pension alongside a workplace pension. They're separate, and you can pay into both within your annual allowance.
If you're considering opting out of a workplace pension to pay into a personal pension instead, it's worth knowing that you'd lose any employer contributions. We can't accept transfers from a pension associated with your current employer.
If you're unsure what's suitable for your circumstances, consider speaking to an independent financial adviser.
What's the difference between the Moneybox Personal Pension and a workplace pension?
A workplace pension is set up by your employer, who also contributes to it. Your investment choices are usually limited to a pre-built fund range.
The Moneybox Personal Pension is a pension you open yourself. You choose how your money is invested from our range of funds, designed to match different attitudes to risk.
What do I need to know about opening a personal pension
Three things to know before opening a personal pension
1. Your money is invested, so its value can go up and down and you may get back less than you put in.
2. You can't access the money until the minimum pension age (currently 55, increasing to age 57 from 2028).
3. You get tax relief on contributions up to your annual allowance, but tax treatment depends on your circumstances and may change in the future.
How many pensions can I have?
There's no limit on the number of private pensions you can hold, and you can pay into more than one in the same tax year. But your total contributions across all schemes are subject to limits.
Most people find it easier to manage their retirement savings in one place. You can transfer eligible old pensions into your Moneybox Personal Pension to consolidate.
Is a pension the right choice for me?
We don't offer personal financial advice or make recommendations based on individual circumstances.
But a personal pension can be a useful option if you want more control over how your pension is invested, want to consolidate older pensions in one place, or are self-employed without access to a workplace scheme.
A few things to consider before opening one: whether you already have a workplace pension and would lose employer contributions by opting out, your attitude to investment risk, and how long until you plan to access your pension. We can't accept transfers from a pension associated with your current employer.
If you're unsure, speak to an independent financial adviser before making any decisions.
What funds can I invest in?
The Moneybox Personal Pension offers a curated range of funds designed to match different attitudes to risk, as well as a choice of global or socially responsible tracker funds.
The curated funds vary by their mix of stocks and bonds:
Cautious is mainly invested in bonds, with lower risk and lower potential returns.
Adventurous is mainly invested in stocks, with higher risk and higher potential returns.
Balanced sits in between.
Full fund information, including holdings and historical performance of each fund, is available in the app when you open your pension.
What fees will I pay?
There are no fees for opening the pension, paying in, or transferring an old pension to Moneybox.
You'll pay an annual service fee on the value of your pension, calculated daily and charged at the end of each month. The rate depends on which funds you're invested in.
Moneybox funds: 0.15% per year, capped at £150 a year.
Other funds: 0.45% per year on the first £100,000, then 0.15% per year on any amount above that. No cap applies.
You'll also pay a fund provider fee, which varies by fund. You can see the fees for each fund in the app.
See the chart above for how our annual service fee compares with other major UK providers as at 20 April 2026.