5 minutes with Rebekah Hornsby, Pensions Product Manager
Hi Rebekah! Tell us a bit about yourself.
I’m the Pensions Product Manager at Monzo, and I spend my time figuring out how we can make pensions genuinely helpful, not just something you deal with once in a blue moon and then forget about. Before Monzo, I was the first employee at a startup and helped grow it to 30 people and a £10m valuation, so I’ve always loved building things from scratch and solving messy problems!
Now my focus is on making pensions clearer and easier to engage with, so people can feel confident about their financial future without needing to be a finance expert.
What's the one thing you wish you'd known about money sooner?
I wish I’d understood sooner how to actually make the most of what you earn. Growing up, saving was always emphasised, but I never learned anything about investing or pensions. It wasn’t until working at Monzo that I properly learned how to start building wealth – things like why investing matters, and why I should pay attention to how much I’m putting into my pension. I really wish I’d grasped that earlier.
What's the first word that comes to mind when you think about pensions?
Freedom. What you save over your working life directly impacts the kind of life you can afford when you no longer want to (or can’t) work. Even if it’s hard to picture who you’ll be at retirement, or what the world will look like, having the biggest pot possible gives you the most options later on.
What's a common myth about pensions?
Not exactly a myth, but something people often take for granted is that the statutory minimum contribution (usually 5% employee, 3% employer) will be enough. While it depends on your individual circumstances, it’s usually not enough to live comfortably. And with questions around the future of the State Pension, it’s so important to check what you’re contributing now and consider whether increasing it might make sense.
Why do you think some younger people delay or deprioritise their pension?
I think because retirement can feel miles away, and having the money now feels more useful for, well, going out. I was absolutely one of those people. In my first job, I didn’t contribute to a pension for two years because I just didn’t see the point. It took a conversation with someone senior to realise I was essentially turning down ‘free money’ from employer contributions, and that contributing didn’t have to mean losing a huge chunk of my paycheck each month.
The value of your pension could go up or down and you could get back less than you put in. You need a free Monzo current account to open a Monzo Pension. 18-70 years old only. UK residents only. Ts&Cs apply.