Penfold - Free £25 Pension Bonus

Overview

Penfold is a UK digital pension provider. New customers who sign up via the 'Get This Offer' button and pay £25 into a new Penfold pension receive a £25 bonus — a £20 contribution from Penfold plus £5 tax relief from HMRC.

How to Claim

1. Click the link on this page to open a Penfold pension
2. Complete your account set-up
3. Pay in £25 or more as a new contribution (pension transfers don't count)
4. The £25 bonus (£20 from Penfold + £5 HMRC tax relief) is usually credited within 2 weeks or more — it can take longer while tax relief is claimed from HMRC

Requirements

• Must be a new Penfold customer and sign up via the 'Get This Offer' button
• Must be eligible for pension tax relief (UK resident, under 75) and within your annual allowance
• Pay in at least £25 of new money — transferring an old pension doesn't qualify

Important Terms

• The bonus goes into your pension, so it can't be withdrawn until pension age (currently 55, rising to 57 from April 2028)
• Standard Penfold annual fees apply to your pension balance
• Capital at risk — pension investments can go down as well as up

Tips

• Paying in £26 rather than exactly £25 avoids any doubt over the "over £25" wording in the terms
• The more you contribute, the more HMRC tax relief you receive
• Handy for consolidating old workplace pensions later — just do your £25 new contribution first