AirFunders has created a platform which links members expenditure to 'The AirFund', a Community Pension Support Scheme. All members grow their entitlement to the fund by by engaging with our partners in various ways.
Currently AirFunders is in Phase One. This means that we are currently set up to collect cashback on purchases made using vouchers from our Digital Voucher Store only. In Phase Two and Three we will see the release of our open banking system where you will be able to add to your part of the AirFund using your everyday contactless shopping. See below for more details.
The AirFunders Journey
The Digital Voucher Store
Joining AirFunders today will allow you to start building your pension entitlement through our Digital Voucher Store and help us build our community user base.
When you purchase and use the Digital Vouchers at our Partner Retailers we can collect cash back on your shopping direct from these stores. So you can build up contributions to the Airfund without spending a penny.
Every membership in this Phase helps us demonstrate community engagement with our project and helps us develop to Phase Two.
Launch of Open Banking
Phase Two of AirFunders, set to be live later this year, will see us partner with a major name brands to launch our Open Banking process.
This will allow you to securely link AirFunders directly to your bank account so that when you shop with our brand partner, we can collect the cash back automatically.
During this period we will be continuing the required work to ensure that our legal and regulatory obligations are covered.
Phase Three of the AirFunders journey will see us expanding our 'Open Banking' partnerships with more and more brands.
So that wherever possible you will no longer need to purchase vouchers anymore and can simply shop and save.
At this stage all of the required technical and legal infrastructure will be finalised and our links to financial partners to provide to our members will be fully established.
AirFunders is a unique way to save. You are being rewarded in the future for your loyalty today, by being part of a community where all our members benefit from working together. The more we engage collectively with retailers the bigger the fund becomes.
You can even decide where you want your entitlement to go – to your pension, to a friend or relative or even a charity.
Rules & other boring bits (but interesting if you are into it) stuff: We use Open Banking infrastructure to track transactions with partner merchants. The cashback generated is added to the fund and your entitlement to the fund grows.
By using our member website, you will be able to see how your average monthly contribution and current entitlement could grow over time, over various time periods and at different rates of return.
Why is this such a great idea?
We understand that most folk don’t start thinking about pensions until well into their 40’s and that sometimes the extra cost of contributing to a pension is just not possible.
In fact, our research shows that 63% of respondents said they were unprepared for retirement or had not thought about it. Interest in finding different ways of funding a pension was high at 91%.