How does the 25% bonus compare to other companies?

What we call the 25% bonus from the government is technically called tax relief, and it is to refund the tax you pay on your income (at 20% tax) as you will be adding money to your pension after you’ve paid tax on your income (e.g. from your salary from work).

We’ll arrange this bonus for you, and it will automatically arrive in your pension pot after a month or two.

And if you pay 40% or 45% tax on your income, you can claim the extra back (so an extra 20% or 25%) directly from the government. This can be done by using the online tax relief service or on a Self Assessment tax return.

This isn’t unique to Beach, it applies to all personal pensions, which are pensions you set up yourself rather than through your employer.

All providers will have different processes and might not call it a bonus, but they should arrange the tax relief for you.

We display it as a bonus so you can see how much you’re getting extra when you save, as it’s quite a big deal. It can really boost your pension pot over time, so if you can, make the most of it!

As a reminder, taxes are specific to your individual circumstances and the tax rules can change in future.