Penny in The Sun: Gary found £100k

May 28, 2024

We couldn't be more thrilled here at Penny. One of our members, Gary Pritchard, was just featured in The Sun for an amazing reason: he found nearly £100,000 of lost pension savings! Let's dive into how he did it and what this means for his future.

Gary's Journey to Financial Discovery

Gary, a 56-year-old pharmaceutical worker from Coventry, wasn't expecting a lavish retirement. However, everything changed when he used the Penny app to track down his lost pensions. Now, he's eyeing globetrotting adventures and a more secure retirement.

Like many of us, Gary had a history of various jobs and lost track of his pension paperwork along the way. He knew he had old pensions but had no idea how to find them or where to start looking.

The Big Turnaround with Penny

When Gary discovered our app, Penny, his financial world made a 180-degree turn. With only basic information about his past employers and his National Insurance number, the Penny app started working on identifying his old pension pots.

Gary mentioned, “It was like winning the lottery every time." He would get notifications on his phone from Penny, letting him know another pension had been found. In total, he recovered an astounding 11 lost pensions!

Gary is now in the process of combining all these small pension pots into one place. Consolidating pensions has several potential benefits, such as simplifying fees and making it easier to manage your savings.

Future Plans

Gary’s newfound pension wealth means he feels much more secure about his future. While he doesn’t plan to retire completely just yet, he is considering a sabbatical to travel the world. More importantly, the security of knowing his wife would be taken care of in case anything happens to him is invaluable.

How Does Penny Work?

Penny makes finding and consolidating your pensions straightforward. All you need to do is provide your name, National Insurance number, and any details you have about your previous employers. The app does the rest, tracking down your old pots and combining them into one easily manageable pot.

Gary’s story is a testament to how lost pensions can significantly impact your retirement plans. If you think you might have old pensions floating around, why not give Penny a try?

Read the full article at The Sun website.

SOME IMPORTANT THINGS YOU SHOULD KNOW
Pensions are long terms investments. It’s important that you know the value of your investment could go up as well as down. You could get back less than you put in. Past performance is not necessarily a guide to the future and pension investing is not intended to be a short-term option. Penny does not provide financial advice so please be sure that this investment is right for you.

Your current pension might have special benefits that will be lost if you transfer to Penny. These special benefits include: Guaranteed Annuity Rate (GAR), Guaranteed Bonus Rate (GBR), Guaranteed Minimum Pension (GMP) and Protected Tax Free Cash (PFTC) over 25%. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

Your current provider might charge you a transfer-fee to transfer your pension to Penny. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

You should consider the charges and benefits before transferring your old pensions to your new plan, and consider whether the risk and reward profile of the investments offered matches your needs. It may be that your current provider has lower fees than Penny - where this is the case, we recommend that you carefully consider whether to transfer your pension to Penny, as you may be better off not transferring in these cases.

If you are in any doubt about proceeding you should contact a financial adviser.
© Copyright 2024 Penny Technology Limited. Company registration: 11999643. FCA Reference Number: 931299.
SOME IMPORTANT THINGS YOU SHOULD KNOW
Pensions are long terms investments. It’s important that you know the value of your investment could go up as well as down. You could get back less than you put in. Past performance is not necessarily a guide to the future and pension investing is not intended to be a short-term option. Penny does not provide financial advice so please be sure that this investment is right for you.

Your current pension might have special benefits that will be lost if you transfer to Penny. These special benefits include: Guaranteed Annuity Rate (GAR), Guaranteed Bonus Rate (GBR), Guaranteed Minimum Pension (GMP) and Protected Tax Free Cash (PFTC) over 25%. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

Your current provider might charge you a transfer-fee to transfer your pension to Penny. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

You should consider the charges and benefits before transferring your old pensions to your new plan, and consider whether the risk and reward profile of the investments offered matches your needs. It may be that your current provider has lower fees than Penny - where this is the case, we recommend that you carefully consider whether to transfer your pension to Penny, as you may be better off not transferring in these cases.

If you are in any doubt about proceeding you should contact a financial adviser.
© Copyright 2024 Penny Technology Limited. Company registration: 11999643. FCA Reference Number: 931299.
SOME IMPORTANT THINGS YOU SHOULD KNOW
Pensions are long terms investments. It’s important that you know the value of your investment could go up as well as down. You could get back less than you put in. Past performance is not necessarily a guide to the future and pension investing is not intended to be a short-term option. Penny does not provide financial advice so please be sure that this investment is right for you.

Your current pension might have special benefits that will be lost if you transfer to Penny. These special benefits include: Guaranteed Annuity Rate (GAR), Guaranteed Bonus Rate (GBR), Guaranteed Minimum Pension (GMP) and Protected Tax Free Cash (PFTC) over 25%. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

Your current provider might charge you a transfer-fee to transfer your pension to Penny. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

You should consider the charges and benefits before transferring your old pensions to your new plan, and consider whether the risk and reward profile of the investments offered matches your needs. It may be that your current provider has lower fees than Penny - where this is the case, we recommend that you carefully consider whether to transfer your pension to Penny, as you may be better off not transferring in these cases.

If you are in any doubt about proceeding you should contact a financial adviser.
© Copyright 2024 Penny Technology Limited. Company registration: 11999643. FCA Reference Number: 931299.