We’re transforming pension access. PensionPay provides a flexible and secure solution to access pensions between regular payment dates.
Instant pension access – enhances member wellbeing and improves their financial resilience by letting them use their money in a way that works for them.
No interest charges – PensionPay is not a form of credit. Members access their own funds without borrowing, interest charges or other fees.
Flexible and secure – a Visa-backed card in their wallet for purchases, bills, or cash withdrawals.
Regulatory compliance – built for UK pension schemes and trusts.
A universal solution – PensionPay integrates seamlessly with both Defined Contribution and Defined Benefit pensions.
Pensions belong to pensioners
Pensions are earned savings and should be accessible when needed. Access between normal payment cycles allows members complete ownership of how and when they draw their pensions.
Greater flexibility and control
Give members an alternative tool in their wallet to minimise reliance on credit cards and overdrafts.
Create flexible access as needed, whether for emergencies, day-to-day expenses or simply to avoid current interest rates.
Improve member wellbeing
Access to funds on demand helps alleviate financial pressure, the leading cause of stress.
By allowing members to align income with expenditure and have access to emergency funds personal wellbeing and pensions adequacy are meaningfully improved.
Like 33% of pensioners Rory has less than £33,000 in savings, making him vulnerable to unexpected financial shocks.
With PensionPay Rory has stopped using his credit card as much, started to pay down outstanding balances and reduced his interest payments.
Like the top 30% of pensioners, Robin is amongst the wealthiest in the UK.
Robin is helping her daughter financially with her upcoming wedding. With PensionPay Robin uses her pot to pay lumpy, adhoc wedding expenses on demand between pension payment dates and pay vendors who don't accept credit cards.
Duncan and Natalie are in work and saving into a DC pot. Like many people in employment their employers provide access to their wages on demand.
They expect this flexible access to continue in their retirement. Similar to others their age they have saved less than Robin and Rory. PensionPay give them the access on demand they are used to and the flexibility needed to manage a smaller retirement pot.
Pensioners are provided with a PensionPay card – backed by Visa – that allows them to spend their pension in the same way as they use any other bank card.
PensionPay works with administrators and payroll providers to make simple adjustments to the flow of funds. Make periodic payments available at the start of the period and control the available amounts on the PensionPay card. Reduce administrative burdens whilst improving pensioner access and control of their money.
By attaching PensionPay to existing pots, Defined Contribution providers can give access on demand to periodic instalment pots and emergency pots. Improve asset retention and encourage longer investment whilst giving members the flexibility to access funds on demand. PensionPay will be able to provide real-time tax codes and reduce administrative burdens for clients.
Give your pensioners flexibility, security, and control over their pensions. Whether you’re a scheme administrator or a trustee, PensionPay delivers real-time solutions that meet the financial needs of today’s and tomorrow’s pensioners.
PensionPay Limited, Chancery House, 53 – 64 Chancery Lane, London, WC2A 1QS, United Kingdom, Registered in England, No. 156827116