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Wealthify launches a fully digital personal pension

  • Wealthify instantly applies 25% tax relief to every contribution

  • Ethical pension option available

  • No investment experience required – Wealthify’s experts build and manage a diversified pension plan, with the help of smart technology

  • Consolidate multiple pensions into a single, digital Wealthify Pension

Wealthify, the multi-award-winning digital investment service, has launched a Self-Invested Personal Pension (SIPP) designed to make saving for retirement easier. With a low minimum investment of just £50, the Wealthify Pension is enabling more people to get access to this important product, giving them a great way to grow the money they set aside for retirement.

Wealthify has designed a pension that is user-friendly, simple and transparent. Wealthify’s Investment Team choose the investments and build the pension based on the customer’s selected level of risk, saving the customer from having to select the investments themselves. In the app and online dashboard, the customer can then see where their money is invested, how it is performing, and make additional contributions at any time. It takes less than 10 minutes to get started, and customers can easily transfer existing pensions in, or create a new personal pension alongside any other pensions they have.

 With a Wealthify Pension, savers will receive an immediate 25% top up every time they make a deposit, thanks to HMRC tax relief, up to the government’s set limit. Wealthify pre-fund the tax relief so that our customers don’t have to wait weeks or months for HMRC to pay it in. Those contributing to a Wealthify Pension also won’t need to pay UK tax (income and capital gains tax) on any profits made, which will increase potential returns.

 As with Wealthify’s other investment products, the customer has complete control over the level of risk taken and can choose to invest ethically, so that as well as growing their money, they can make a positive impact on society and the planet. Payments into the pension are flexible so a customer can decide whether they want to commit to a regular monthly direct debit, or simply top up on an ad hoc basis.

Michelle Pearce-Burke, CIO and co-founder of Wealthify, said, “Following the success of our ISA and general investment accounts, I’m delighted to introduce the new Wealthify Pension which we believe to be the simplest and quickest to set-up digital pension in the market! We always aim to answer the needs of our customers, and our pension offers them an easy way to save towards their retirement and maximise the amount of money available in retirement. We’ve removed the complexity of choosing what to invest in, and instead offer expert pension management with low fees and a simple dashboard, so customers can see exactly how their pension is performing. We’re also pleased to offer an Ethical version of our pension, so that people can invest in a way that also makes a positive impact on society and the planet. And as always, our Customer Care team are on hand should customers have any questions that they can’t answer online.”

 “People’s current pension provisions are often inadequate to rely on for a comfortable future, and due to the complexity and jargon, people often have no idea how to take the necessary steps to get their pension on track. Pensions have traditionally been confusing, inaccessible and overwhelming. So, for many people, taking control of their retirement planning can feel like a daunting task, especially with the increasing number of workplace pensions to keep track off. We designed the Wealthify Pension to break this inertia and help people take saving for retirement into their own hands. Our service is fully online and is easy to use and understand – something that’s often missing with traditional providers. Customers can consolidate multiple old pension pots in one simple Wealthify Pension too”

“We’re excited to launch our Personal Pension and help more people start planning for tomorrow, today.”

Wealthify’s stress-free pension is a perfect complement to existing workplace or state pensions, helping people plan for retirement with a flexible saving option.

For more information and to see potential pension projections please visit: https://www.wealthify.com/pension

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