Did you know that more than 60% of 20-40-year-olds say they’re not on track with their retirement savings?1 That’s according to a recent survey we launched to help us understand what young adults expect from retirement and the steps they are taking to prepare for life after work.

 

Invite a friend, get £50 for free 💰

Almost 99% of our pension customers2 say they’d recommend the Moneybox Pension to a friend. If you know someone who could use a little encouragement to start planning for retirement, why not tell them about Moneybox?

To celebrate Pension Awareness Day, we’re offering you a £50 gift when you refer a friend to open a pension. They’ll get £50 too!

Here’s how it works:

  • Invite up to five friends and family to download the Moneybox app using the Invite a Friend link in your app Settings.
  • Once they download the app using your unique link, they’ll need to open a Moneybox Personal Pension account and pay in at least £50. They can do this by transferring in an old pension worth £50, or by contributing directly to their pot.
  • When their pension Contributions or Transfers value reaches £50 (excluding tax relief), we’ll give them a £50 gift, and you’ll get £50 too. The gift includes a £40 Moneybox Contribution, which arrives within 60 days, with the remaining £10 arriving as tax relief later.  
  • To be eligible, your friends must have started their transfer and entered policy details before 13 October 2021 if they are transferring a pension, or have £50 of contributions collected by 13 October 2021, with the final weekly collection deadline of 12:00 pm on 13 October 2021.

You’ll both need to have completed the contribution declaration (available by the Add Money journey for your Personal Pension) to receive your rewards. There’s no need to contribute to your pension through this process unless you’d like to.

 

 

This exclusive offer is only available between 13 September and 13 October and for the first five friends you refer. So, what are you waiting for?


1 Survey of 2,008 UK adults aged between 20 – 40, undertaken by Opinium Ltd between 26 August 2021 – 28 August 2021 on behalf of Moneybox, the saving and investing app.

2 Survey of Moneybox Personal Pension customers undertaken between November 2019 – September 2021.

 

FAQs

Is this offer open to everyone?

Everyone with a Moneybox Personal Pension account with a plan value greater than £1 is able to participate in this offer.

What do I need to do to earn a reward?

You’ll need to invite friends who aren’t currently Moneybox customers to join Moneybox using your unique referral link. Head to Settings > Invite a friend and then share your referral link with up to five friends. Your friends will need to meet all the criteria of our offer while it’s live for you to receive your referral reward.

I’ve referred a friend to Moneybox. What do they need to do to earn a reward?

Your friend will need to download and sign up to the Moneybox app for the first time using your referral link. 

Once they’ve successfully completed our registration process, they’ll need to open a Moneybox Personal Pension and pay in at least £50. They can do this by either by transferring in an old pension worth £50, or by contributing directly to their pot. When their total pension contributions reach £50 (excluding tax relief), we’ll give them a £50 gift, and you’ll get £50 too. 

Your friend must have started their transfer and entered policy details before 13 October 2021 if they are transferring a pension, or have £50 of contributions collected by 13 October 2021, with the final weekly collection deadline of 12pm on 13 October.

When will rewards be paid?

You and your friend will each receive a contribution from Moneybox, which will appear in your pension breakdown as a Moneybox Contribution, no later than 60 days after the value of Transfers or Contributions in the pension breakdown reaches at least £50.

How long does the offer run for?

The offer window runs from 00.00 BST on 13 September 2021 to 23.59 BST on 13 October 2021. Anyone who has been referred by a Moneybox customer will need to make sure any contributions they want to make to their pension are in the Moneybox collection by 12.00 BST on 13 October 2021 to meet the cut-off.  

Does a pension transfer have to be completed during the offer window to be eligible?

Transfers do not need to complete during the offer window, but they will need to be In progress in the app. Whoever is transferring their pension will need to make sure they’ve entered policy details and finished submitting their transfer by 23:59 BST on 13 October 2021.

Can I share my referral code with an existing Moneybox customer?

Unfortunately, this offer is only available when you refer new customers who sign up to Moneybox for the first time using your referral link.

I referred friends to Moneybox before 13 September. Does this count?

Unfortunately, this offer doesn’t apply to any referrals you made before 13 September.

 

If you have any further questions, check out our help content in the app, or get in touch with our Support team via the in-app chat or email support@moneyboxapp.com. 

 

As with all investing, the value of your pension can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and is subject to change. Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to 57 in 2028). Pension & Tax Rules apply and are subject to change. 
Moneybox Personal Pension T&Cs Apply.

 

Terms and Conditions 

Background

  1. Digital Moneybox Limited (“Moneybox”) has launched this promotion (the “Offer”) to all Moneybox Personal Pension customers (each, a “Existing Pension Customer”) to introduce friends and family who are not currently Moneybox customers (each, a “New Customer”) to open a Moneybox Personal Pension.
  2. Each Existing Pension Customer has been provided with a unique Invite a Friend link in the Moneybox app (the “Referral Link”).
  3. By an Existing Pension Customer sharing their Referral Link with a New Customer, they acknowledge and agree that these terms and conditions apply to their participation in the Offer.

Eligibility

  1. The Offer is available from 00:00 BST on 13 September 2021 to 23:59 BST on 13 October 2021 (the “Offer Window”).
  2. The Offer is for:
      1. an Existing Pension Customer to receive a reward of £50; and 
      2. a New Customer to receive a reward of £50,

    in each case with £40 to be paid by Moneybox (the “Moneybox Contribution”) and £10 awarded as a pension tax relief from HMRC (“Pension Tax Relief”). If you are not entitled to the Pensions Tax Relief, Moneybox will still only award the £40 Moneybox Contribution.

  3. To be eligible for a Moneybox Contribution you must:
    1. be resident in the United Kingdom for tax purposes; 
    2. not be an employee, officer or director of Digital Moneybox Limited or any member of its group, or any member of such person’s immediate family or household.
  4. To qualify for the Offer:
    1. an Existing Pension Customer must have an open Moneybox Personal Pension account with a balance of at least £1; and 
    2. a New Customer must be new to Moneybox (i.e. no current or past accounts with Moneybox) and during the Offer Window must:
      1. open a Moneybox Personal Pension using the Referral Link;
      2. complete the contribution declaration for their Moneybox Personal Pension and provide all additional personal information that is required to Add money into their Moneybox Personal Pension; and
      3. either:
        1. have one or more Qualifying Pension Transfers (as defined below) started and In Progress (as defined below); or 
        2. have completed a payment into their Moneybox Personal Pension of £50, which for the avoidance of doubt will need to be collected into the Moneybox Personal Pension by no later than 12:00 p.m. BST on 13 October 2021 and excludes any Moneybox Contributions or pension tax relief.
  5. A “Qualifying Pension Transfer” means a UK registered pension that:
    1. has a minimum transfer value of £50; 
    2. does not have guaranteed benefits associated with it that cannot be provided by the Moneybox Personal Pension, as set out in Section 3 of Moneybox’s general Terms & Conditions; and
    3. is neither the pension provided by the New Customer’s current employer nor a pension being contributed to by their current employer.
  6. A pension transfer that is In Progress is one in which Moneybox has received a transfer request during the Offer Window where the New Customer’s current pension provider (“Current Provider”) has been selected and all of the correct policy information has been supplied. This will show as “Transfer in progress” in the Moneybox Personal Pension account in the Moneybox app. If the pension transfer request cannot be processed by the Current Provider electronically, to qualify for the Offer Moneybox must have received the New Customer’s transfer request form complete with policy information before the end of the Offer Window.
  7. At the time of payment of the Moneybox Contribution and Pension Tax Relief both the Existing Moneybox Customer and the New Customer must have an open Moneybox Personal Pension account and must not have submitted an application to close or transfer their Moneybox Personal Pension to another provider. A closure or transfer request before the Moneybox Contribution has been paid shall lead to forfeiture of such Moneybox Contribution. 

Payment

  1. The Moneybox Contribution will be paid into the respective Moneybox Personal Pensions of the Existing Pension Customer and New Customer. No cash equivalent is available.
  2. To receive payment of a Moneybox Contribution into your Moneybox Personal Pension, you must be and in compliance with all applicable tax limits to use the Offer.  You must inform Moneybox within 30 days of receiving the Moneybox Contributions if you are not entitled to the pension tax relief.
  3. The Moneybox Contribution will be awarded within 60 days:
    1. for transfers, once the Qualifying Pension Transfer has completed (this is indicated when the pension transfer is marked as completed in the Moneybox app and via email); or
    2. for deposits, once the payment of £50 or more has cleared into the Moneybox Personal Pension.
  4. The Pension Tax Relief will usually arrive between seven and 11 weeks after payment of the Moneybox Contribution.
  5. Digital Moneybox Limited is the sole arbiter of these rules, our standard terms and conditions (including those set out in our Terms & Conditions and product Key Features Documents) remain in force and are not affected in any way by this Offer.

Prohibitions and limitations 

  1. The Moneybox Contributions will only be paid out once per New Customer. If Moneybox receives multiple referrals for the same New Customer, it will only accept the first referral and any further referral will not be valid. 
  2. Each Existing Pension Customer can receive a maximum of five Moneybox Contributions.  
  3. An Existing Pension Customer may not do any of the following, each of which shall entitle Moneybox to withhold any Moneybox Contributions payable to such Existing Pension Customer or any New Customer they have referred:
    1. create more than one account to invite themselves to participate in the Offer;
    2. invite New Customers who they do not know personally, including publicly distributing the Referral Link; and
    3. do anything that damages Moneybox’s brand or reputation.
  4. This Offer cannot be used in conjunction with any other offer or similar campaigns run by Moneybox, with both the Existing Pension Customer and New Customer only entitled to avail of one Moneybox offer for each Moneybox Personal Pension that is set up or contributed to for the first time. 

Data Protection

  1. Each Existing Pension Customer represents and warrants to Moneybox that they have the express consent from the individuals whose data they provide Moneybox.
  2. Each New Customer who signs up to a Moneybox Personal Pension using a Referral Link acknowledges that Moneybox will share their name and information regarding their pension transfer or contribution for the purposes of such New Customer and the Existing Pension Customer who referred them claiming the Moneybox Contributions.

Other

  1. If Moneybox believes that any customer has not adhered to these terms or has in any way attempted to manipulate the Offer and/or process, it reserves the right to withhold any promotions to that customer.
  2. Moneybox reserves the right to withdraw this Offer at any time.
  3. Moneybox is the sole arbiter of these rules, and its standard terms and conditions (including those set out in our Terms & Conditions and product Key Features Documents) remain in force and are not affected in any way by this Offer. 
  4. By participating in the Offer, a customer is deemed to have accepted these terms.
  5. This Offer is governed by English law and by participating you submit to the exclusive jurisdiction of the English courts.
  6. Moneybox accepts no legal responsibility for any use of the Offer which breaches these terms or its Terms & Conditions.