This document explains the terms and conditions of our Prize Draw Giveaway (the “Giveaway”). The promoter of the Giveaway is Penfold Savings Limited, authorised and regulated by the FCA, no. 826097, registered in England and Wales, company no. 11668244, with a registered office at Uncommon, 1 Long Lane, London, SE1 4PG.
- What is the Giveaway?
- If you comply with these Terms and Conditions, Penfold will enter you into our 2023 Giveaway. If you are eligible to enter the Giveaway we will put your email address into a draw of all eligible customers to win a third party contribution into your Penfold Pension (the “Prize”).
- The Prize is a £40,000 Prize contribution into the Penfold pension for one lucky Winner.
- The £40,000 consists of:
- £32,000 contribution from Penfold
- £8,000 in tax relief from HMRC
- The Winner will be selected from a random draw of entries
- All entries must be received by 23:59 on 19/03/23.
2. How to be eligible to enter the Giveaway
- To be eligible for the Giveaway you must be:
- A UK resident aged 18 years or over
- Eligible for tax relief
- Have an active ‘Qualifying Account’ by 23:59 on 19/03/23, see below
- Aware that you must account to HMRC for any tax that you may be due to pay
3. How to get entries into the Giveaway
You will be automatically entered into the Giveaway if A, B or C below apply to you. The number of entries assigned to each letter is the amount of times your email address will be entered into the Giveaway.
3a. Have a ‘Qualifying Penfold Account (+100 entries)
You are classed as a Penfold customer by completing at least one of the three actions stated below by 23:59 GMT 19/03/23:
- You have made a contribution into your Penfold pension
- You have requested to transfer a “Qualifying pension transfer” (see B)
- Your Employer has signed Terms & Conditions with us as your Workplace pension provider, and you are a registered employee of the Employer
- If you do not want to be entered into the Giveaway, please contact us via email below by 23:59 GMT 19/03/23
3b. Transfer a ‘Qualifying Pension Transfer’ (+200 entries).
A ‘Qualifying Pension Transfer’ means that:
- You’ve requested a pension transfer to Penfold from an existing pension provider, from 00.01 GMT 01/01/23 to 23:59 GMT 19/03/23
- The value of the pension pot you’re transferring to Penfold is at least £100, confirmed by the ceding scheme by 23:59 GMT 17/04/23
- By 17/04/23:
- If you open your ‘Qualifying Penfold Account’ with a ‘Qualifying Pension Transfer’ you will receive both entry amounts, +100 and +200 respectively
- If you change your mind after requesting to transfer your pension and your transfer hasn't completed, you can always cancel your request.
- We have also extended our regular 30 day transfer cancellation policy to 45 days. This means once your transfer is successful, you have 45 days to reverse your transfer and your funds will be returned back to your original provider.
3c. Use My Forecast tool (+50 entries)
- This involves a Penfold customer navigating to the My Forecast tool at getpenfold.com/account/my-goal once logged into their account
- The customer must visit the screen via mobile or desktop to qualify for the entries
- These points can only be redeemed once, regardless how many times you visit the Forecast tool.
- If you have already used My Forecast tool before the campaign launch, you will automatically receive the +50 entries
4. Winning the Prize
- The Winner will be selected at random from the prize draw on 17/04/23
- The Winner will receive the £40,000 Prize into their Penfold Pension which consists of:
a) £32,000 contribution from Penfold; and
b) £8,000 in tax relief from HMRC
- Penfold will notify the Winner on 17/04/23, to arrange how the payment will be made. Penfold will explore the rules around annual allowance contributions to ensure that the total contributions for that relevant tax year are within the Annual Allowance and the Winners’ UK relevant earnings
- The Prize is non-exchangeable and non-transferable
- We may ask the Winner to take part in post Prize Draw publicity (with the use of your name, and photography in publicity if you agree to this)
5. Prohibited Uses
- You may only participate in the Giveaway in good faith for lawful purposes. You may not:
a) Create duplicate accounts to enter the Giveaway draw multiple times;
b) Use the Giveaway as part of your business or commercial activity;
c) Do anything that is regulated or authorised by the Financial Conduct Authority or the Prudential Regulation Authority;
d) Do anything that damages Penfold’s brand, goodwill or reputation;
e) Use the Giveaway in: (i) any way that breaches any applicable local, national or international law or regulation; or (ii) any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect;
f) Otherwise attempt to circumvent this Agreement or the Giveaway.
- No employee of Penfold, its affiliated companies or their advertising agencies can take part in this offer
6. Giveaway terms general points
- By participating in the Giveaway, you accept these terms and conditions.
- You agree that Penfold Pension is liable for none of your costs, expenses, losses or damages sustained or incurred by you or any participant in the offer.
- You are responsible for any impact that payment of the Prize has to your Penfold Pension and other payments made or to be made to a registered pension scheme and application of all applicable tax limits applicable to UK registered pension schemes.
- This offer is separate to and does not form part of any of the terms of the Penfold pension account you have with us.
- It may take 3 months or more to receive the relevant tax relief on the Prize contribution, due to the time required to obtain tax relief from HMRC.
- Penfold has the right to refuse to pay you the Prize if (at its sole and absolute discretion) Penfold suspects that you have not participated in the Giveaway in good faith or have breached this Agreement.
- We will determine, at our sole and absolute discretion, whether there has been a breach of this Agreement. When a breach of this Agreement has occurred, Penfold may take such action as we deem appropriate, including (but not limited to) termination of this Agreement, clawing back of Giveaway Rewards, closing your account(s), closing third party account(s) and suspending the Programme.
7. Limitation of liability
- You agree, and by taking part in the Giveaway acknowledge, that Penfold accepts no liability for any use of the Giveaway except for the payment of the Prize on the terms of this Agreement.
8. Changes to this Agreement
- We may revise this Agreement at any time by replacing or amending this document, or the relevant web pages containing or hosting this document. Any change will not affect payments made or due to be made under the Giveaway. Participation in the Giveaway after the change shall amount to acceptance of the Agreement in force at that time.
- Penfold reserves the right to:
a) amend, alter or change the Giveaway at any time, without notice;
b) amend, alter or change the Prize at any time, without notice, for applications received after the date of change; and
c) withdraw, suspend or terminate the Giveaway at any time, without notice. If we do any of these things, we will let you know if your application has been received before any cut-off date. In the event the Giveaway is terminated, Penfold will not be obliged to pay the Prize to any accounts that would have otherwise won the Prize.
9. Privacy
- As you must be a Penfold customer to enter the Programme your data will be dealt with in accordance with our Privacy Policy.
10. Applicable law
- This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be
- governed by and construed in accordance with the law of England and Wales.
- Each party irrevocably agrees that the courts of England and Wales shall have
exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation (including non-contractual disputes or claims).
11. Contact us
To contact us, please email hello@getpenfold.com.