Here’s a spooky fact… with the average person now having 11 different jobs over the course of their career, you could be paying a scary £38,000 in provider fees by the age of 65 – for pensions you didn’t even remember you had! 😱
That’s because with every new job, you get another new pension and with very little help from traditional pension providers, your old workplace pension pots could be left to become zombies in a graveyard. 🧟 But it doesn’t need to be this way…
Last month we launched our improved Pension Provider Search Service, helping you dust off the cobwebs and track down your old provider based on where you used to work. You can now access this tool at any time (you don’t have to have a Moneybox Pension) via the Discover tab and in some cases, you’ll get an instant result! Where it’s not instant, our team of pension detectives will be ready to start your search and have your result within a few days. 🕵️♀️ No tricks, just treats to help you take control of your money and your financial future.
Thousands of people have already found their old pension providers thanks to our Provider Search Service and as a result, we’ve helped track down over £1 million in lost pension pots! 🤑
We’ve been shortlisted for Digital Wealth Management Provider of the Year at the Moneyfacts Consumer Awards 2021. 🏆
If you think Moneybox deserves your vote, we’d love you to support us by completing this short survey. Those who take part can win one of three £1,000 prizes from Moneyfacts. 🙌 Voting closes on Friday 20th November.
Awards like these are a great way to spread the word about Moneybox and encourage even more people to start saving and investing for their future!
LISA Bonus Screen
You asked, we made it happen… the much-loved Lifetime ISA bonus screen has been given an update! You can now see a clearer breakdown of your bonus, including how much has been paid, how much is pending and the bonus you’ll be receiving from your next collection. Plus, we’ve added a simple bonus timing explainer, detailing how your bonus is calculated and when it will be paid. Check it out by heading to Accounts > Lifetime ISA.
Become a Moneybox Shareholder
There’s still time to earn free shares in Moneybox! We’re giving you the opportunity to become a Moneybox Shareholder as a thank you for choosing to transfer an old workplace pension pot to us. 🌟
Log in now and head to the Accounts tab to learn more about Reward shares.
When deciding whether to transfer your pension, it’s important to compare the charges, investment options and benefits between Moneybox and your old provider. If you’re not sure whether the Moneybox Pension is right for you, you may want to contact a suitably qualified financial adviser for help.
We know there are some eager Moneybox users who want to become shareholders, but simply don’t have an additional old workplace pension to transfer. We hear you, and we’ll continue to look into ways to allow all of our community the opportunity to be closer to our journey.
In the news 🗞
- The last week of October marked Good Money Week. 🌿💸 See how you can make your finances cleaner & greener via Forbes, featuring our socially responsible investing fund.
- We’re thrilled to be named as a winner in the Nesta Open Up 2020 Challenge, receiving a £150k prize to continue helping everyone save and invest for their future! 🎉
- We’ve been named at No.3 on Tempo’s Top 50 Startups to work for! 🙌 Check out the full list of startups.
Behind the scenes 🎬
This month, we go behind the scenes at Moneybox HQ and chat to Ahmed from Team iOS! Responsible for making sure Moneybox works seamlessly on iPhone devices, hear more about the world of iOS, app development and life at Moneybox.
For the Lifetime ISA, if you withdraw money for any reason other than buying your first home (up to £450,000) or retirement, you’ll pay a government charge of 25% on the the amount you withdraw. This means you’ll get back less than you’ve put in. Eligibility criteria apply.