How does it work?

When someone joins MyPensionCare, they receive a commission every time they make an online purchase.Some retailers only pay us based on our overall performance, which we call the "MyPensionBenefits" type, while others pay us based on individual purchases and our overall performance, which we call the "MyPensionCare" type. All commissions we receive based on our overall performance are invested in a common pot that we share with all our active members.

From age 55 or after a minimum of 5 years' membership (whichever is greater), we will automatically pay you on the membership anniversary date by BACS each year up to the age of 75.

A percentage is allocated to each member according to their commissions generated in the common pot and the length of their membership.

Each year, you can decide to defer payment of MyPensionBenefits for one year. This amount will automatically be added to your entitlement for the following year. However, all investments carry a certain amount of risk and the value of your share can go down as well as up depending on the performance of our pot. Don't assume that the value of investments always increases.

If you decide to cancel your membership, the contributions invested on your behalf by our third-party provider will belong to you forever, but you will no longer benefit from MyPensionCare benefits.

In the event of your death, your account will automatically be closed. The money generated by your personal pension belongs to you and your relatives and is subject to UK pension legislation. Your participation in MyPensionBenefits will be automatically terminated and no further payments can be made to you or your relatives.

Currently, any cashback, rebate or reward scheme is not subject to income or capital gains tax.Any cash received from MyPensionBenefits scheme is therefore not taxable, unlike your pension generated by MypensionCare which is subject to UK pension legislation