What is the Moneyfarm Pension?
The Moneyfarm Pension helps you grow your money, to give you the income you deserve in retirement.
Our cost-efficient investment advice, matches you to a pension portfolio that reflects your retirement goals, time horizon and risk appetite.
The Moneyfarm Pension is a fully managed self-invested personal pension (SIPP). This means your Moneyfarm Pension is built and continually managed by our investment team to ensure you stay on track to get the retirement lifestyle you’ve been working towards.
Moneyfarm removes the hassle and does the hard work for you. Not because you can’t, but because we understand you want to invest your time elsewhere.
Why choose a Moneyfarm Pension?
Moneyfarm’s cost-efficient investment advice matches you to a pension that’s built to reflect your investor profile and time horizon
Our investment team build and manage your portfolio, regularly rebalancing your pension to manage risk and maximise returns
Bring together old pensions for free. Managing your savings in one place makes it easier to keep on track with your objectives
Our technology ensures you’re always invested in a suitable portfolio. Let us know when your situation changes, and your portfolio will change with you
We adjust your pension investments as you get older and automatically de-risk your portfolio as you get closer to retirement
Flexible access to your pension when you reach retirement. Start withdrawing from your pension without any additional fees
Tax benefits to the Moneyfarm Pension
Start saving into your Moneyfarm Pension to enjoy the generous tax benefits. You can claim tax relief on your pension contributions depending on how much tax you pay.
When you invest with Moneyfarm, you’ll automatically get your 20% tax relief – no waiting for HMRC. This equates to a 25% boost to your pension contributions.
If you’re a higher or additional rate taxpayer you’re entitled to more. Fill in your tax return form to reclaim your relief. You’ll receive your additional relief as either a rebate at the end of the tax year, a reduction in your tax liability, or HMRC will change your tax code.Start a pension
|Basic rate of income tax|
|To get £10,000 in your pension add||£8,000|
|Auto relief or claim to HMRC?||Auto|
|Higher rate of income tax|
|To get £10,000 in your pension add||£6,000|
|Auto relief or claim to HMRC?||HMRC|
|Additional rate of income tax|
|To get £10,000 in your pension add||£5,500|
|Auto relief or claim to HMRC?||HMRC|
How it works
Discover your investor profile
Answer questions about your financial knowledge, financial situation and attitude to risk to discover your investor profile
Match with the right portfolio
We’ll recommend the right pension portfolio for you to meet your retirement goals, built and managed by our team of experts
Add funds to your pension
Add money to your pension by setting up a direct debit and investing a lump-sum. You can even transfer old pensions for free
Receive ongoing investment advice
You’ll always invested in a suitable portfolio. If your financial situation changes, let us know, because your pension might need to adjust too
How much will my Moneyfarm Pension cost?
We keep costs simple and only charge you one fee at an account level; our management fee. The total cost of investing includes two further costs, the transaction cost (market spread) and underlying fund fee.
Whether you invest £10,000 or £1 million across your pension, ISA, or GIA, our investor-friendly fee structure will suit your needs. There will be no surprise flat fees or charges for rebalancing, transferring or for meeting targets.
At Moneyfarm, we believe everyone should have access to simple and low-cost investment solutions – especially when they are protecting their money for their family’s future.
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Transfer your pension to Moneyfarm
Combining your old pots could make your pensions easier to manage and help you save on fees. With Moneyfarm transferring your pension is easy, free and efficient.
Just fill out the required information on the transfer form and we’ll take it from there. We’ll talk to your existing provider and move your pensions over to your Moneyfarm account. We’ll even cover any transfer-out charges your existing provider might bill you. This process should take three-four weeks, although this depends on your provider.Transfer a Pension
Retirement doesn’t come cheap, but the sooner you start saving for your future, the less it impacts your day-to-day living. But how much should you be saving with each pay cheque?
Remove the guesswork and use the free Moneyfarm Pension Calculator to find out how much you should be putting away each month to achieve that dream retirement.Calculate your pension
We’re here for you
Our Investment Consultants are here to talk you through every part of your investment journey – whether you have questions about your account, your performance or the the decision-making behind the latest rebalancing.
Technology makes our investment advice cost-efficient; our Investment Consultants make our service invaluable.
How a target date product can help you
Whenever you invest, your risk profile affects what goes into your portfolio. The longer you have, the more risk you can afford to take and the higher your scope for return. As your time horizon changes, so should the composition of investments in your portfolio.
The Moneyfarm Pension is a target date product, which means we automatically rebalance your portfolio to keep you on track to achieve your financial goals as you get closer to retirement.
Once you invest in your Moneyfarm Pension, you can invest time in the things that matter, knowing we’ve got your best interests at heart.
How to use your pension
Investors have more flexibility, transparency and control over their pension than ever before.
It’s important you understand all the options available to you to make the right decisions with your retirement savings. Our Investment Consultants are on hand to talk through any questions you might have.
Once you reach the age of 55 you can take 25% of your pension savings as a tax free lump sum. If you choose to take this, you can then:
- Buy a flexible income drawdown
- Buy an annuity
- Withdraw it and keep it as cash
- Do a mixture of the three
Pension Frequently Asked Questions
What is a pension?
How do pensions work?
You can claim tax relief on your personal pension contributions relative to your income tax band. The investments in your pension will grow free from income tax and can be sold without incurring a Capital Gains Tax charge. You can usually take 25% of your total pension pot as a tax-free lump sum from the age of 55, and the remainder will be taxed according to your income tax band.
Once you’ve started to save into your pension, you will normally have to wait until you’re 55 before you can draw any money from it. You can then decide whether to go into income drawdown, buy an annuity with your savings, or do a combination of the two.