Penfold
£25 Free Cash
Personal Pension£25profit
10mins to complete
Offer overviewChris · Your personal guide
Penfold is a digital app for opening and paying into a personal pension.
One of the simplest offers here: deposit £25 and get £25 back, £20 from Penfold within two weeks plus £5 HMRC tax relief two months later.
It is a real pension, so your £25 is locked until retirement age, currently 55, rising to 57 in 2028. No exit fees if you move it later.
The fund charge is 0.75%, about 38p a year on a £50 pot. If you are happy locking it away long term, it is an easy 100% return.
Key terms
+£25
Upfront deposit£25
Free cash arrives2 months
ImportantPension funds locked until age 55+
Last checked: 9 Sept 2026Full terms(opens in a new tab)
Step by Step Guide
Start here
Sign up to Penfold
5 mins
- 1Click the button below to open Penfold via the referral link
- 2Create your account and verify your identity
- 3Choose a pension plan and risk level (you can change these later)
Up next · 2 steps
Deposit £25
3 mins
- Make a one-off payment of at least £25 into your pension
Transferring an existing pension does NOT count. Must be a new deposit
No recurring payments required. A single deposit is fine
Receive £25 bonus
Within 2 months2 mins
- Penfold adds £20 to your pension within 2 weeks of deposit
HMRC adds £5 tax relief in about 1 to 2 months
Total £25 bonus added directly to your pension pot
If you enjoy using Penfold, continue building your pension with them
If not, you can transfer to another pension platform with no exit fee. Penfold will sell your portfolio and transfer the balance across
3 steps to £25
Quick review
Penfold
Wondering whether Penfold is worth it beyond the bonus? Here is our honest take.
An app-first personal pension built for self-employed people who don't get one through work. Quidsy has a referral that doubles your first £25 deposit once tax relief and the bonus arrive. Ideal for freelancers, contractors, or anyone juggling old workplace pensions. Just remember the money is locked away until you turn 55.
CategoryInvesting Sign-ups
Last updated
Chris' verdictYour personal guide, QuidsyPenfold makes pension saving painless. The app is clean, contributions are flexible, and HMRC tops up every deposit with 20% basic-rate tax relief. For the referral, you pay in £25 and £50 lands in your pension once HMRC's tax relief (£5) and Penfold's referral bonus (£20) both arrive. Your £25 has doubled.
The thing to be aware of is that this is a real pension. Your deposit and the bonus are locked until retirement age (currently 55, rising to 57 in 2028). You can transfer to another pension provider down the line, but you can't withdraw early.
The fees aren't the cheapest going either, so if you plan to use Penfold as your main long-term pension, it's worth comparing against PensionBee, AJ Bell and Vanguard once you've claimed the £25. If you're just here for the bonus, deposit the £25, leave it to grow, and you've got one of the easiest offers on the site.
Penfold Savings Limited is authorised and regulated by the Financial Conduct Authority (FRN 826097). The Penfold Plan is 100% FSCS-protected; other Penfold plans are covered by the FSCS up to £85,000 per person. Pensions are an investment, your capital is at risk, and you cannot access funds until age 55 (rising to 57 in 2028).