Free £75 For Your Pension Pot

Pensions tend to be some of my favourite deals. The offers are usually quite high in value and the contributions tend to arrive pretty quickly.

There are a couple of deals worth looking at right now that will get you a free £75 added to your pension.

I’ll start with most lucrative:

Free £50 from Pension Bee

Pension Bee are probably the best known disruptor in the market. They are well known for pushing their simple pension consolidation service and picking up a huge part of the pension market over the past few years.

At the time of writing (June 2021) if you transfer a pension (any pension) into Pension Bee they will add £50 to the pot.

You may already have a pension from a previous employer that you could use to unlock this but even if you don’t, you can just set up a new one with as little as £1.

If you want to take advantage of this offer you can use any provider. For the sake of this explanation I’ll use Raindrop (who until recently also had a very good deal in place themselves, here’s hoping it comes back).

Step 1

Register and set up a pension with Raindrop (or whoever you choose) and fund it with a one-off payment of just £1.  No need to set up a regular investment.

Once it’s setup and the money has been invested in your chosen fund, you’re ready to initiate the transfer from Pension Bee. It’s important to make sure that the money you added isn’t sat as cash in your Raindrop account before you do this. It needs to have been invested.

Step 2

Use this link (you won’t get the £50 if you don’t) and set up your Pension Bee account adding the details for the pension you would like to transfer.

That is it. Sit back and wait for your £50 to be added.

It’s very likely that other pension providers will create similar deals in the future so leaving this account ticking over should bring other opportunities in the not too distant future.

Free £25 from Penfold

A new name to me, Penfold will contribute £25 to a pension taken out with them if you contribute £25 yourself.

This is a really simple one as we don’t need to transfer another pension in. Simply set up a new account using this link and add your £25.

Penfold are pretty quick to add their contribution and the website is pretty good. Again this is a useful one to leave as an independent investment in order to pick up any other deals that may appear over the next few months.

So there you have it. £75 into the pension pot for very little effort on your part.

Sit back and watch it grow.

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