77. Chest

Chest has turned saving for your pension from something perplexing and distant into something engaging, rewarding and set to change lives.

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Founders: Jason Murphy and Alastair Adam
Year founded: 2024
Website: joinchest.com

More than a third of UK adults aged 40 to 75 years old have absolutely no savings, the Department for Work and Pensions reported in July. For this group, retirement saving is a huge concern; the Pensions Commission found that 15 million working-age people aren’t saving enough, putting them at risk of a significant drop in living standards in later life.

The founders of Chest have set out to solve this pervasive issue of pension undersaving. “Millions are effectively sleepwalking into a poor standard of living in later life,” they claim.

The founders of Chest have set out to solve this pervasive issue of pension undersaving. “Millions are effectively sleepwalking into a poor standard of living in later life,” they claim.

London-based Jason Murphy and Alastair Adam created a platform that allows people to easily save but without impacting their present-day living standards.

Aimed at Millennials and Gen Z, it uses behaviours like cashback, automation, and gamification to encourage saving. The duo looked to models like Bilt Rewards in the US, which has turned paying rent into real benefits, therefore changing habits.

“Pensions had become invisible and disengaging, so we asked ourselves: how do younger generations actually live, spend, and save today?” the team comments.

They wanted people to be interested in their pensions, and knew the model had to change for this to happen.

The key to engagement is knowledge. Both founders admit that they were stunned to discover that, when they checked their own pensions, they were facing significant underfunding. This is despite working for a decade in professional services. Their research has revealed that many people don’t know how much money is in their pension; many can’t afford to contribute more and others are anxious about their retirement savings.

Pensions had become invisible and disengaging, so we asked ourselves: how do younger generations actually live, spend, and save today?

The team had some false starts, including delaying the decision to create their own debit/credit card.

Instead, they opted to integrate with existing cashback rails through a platform called Tillo. Advisers guided on this decision; and partnerships continue to be key with Quai Digital, GoCardless and Onfido all on board. Plus, the startup is backed by initial funding from angel investors and supported by the Baltic Ventures and FinTech Wales accelerator programmes.

An app is incoming. It will offer easy access to more than 120 national brands for cashback, an AI-powered agent to help users understand their “Chest score”, and the delayed debit / credit card. B2B2C partnerships with employers, gig economy platforms, graduate networks, and universities are also teased over the next five years, as well as international expansion.

Combined, these goals will further drive the platform’s uptake and take Chest closer to its objective of being the go-to pension platform for Millennials and Gen Z in the UK and further.

View the full Startups 100 Index for 2026

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Written by:
Helena is Deputy Editor at Startups. She oversees all news and supporting content on Startups, and is also the author of the weekly Startups email newsletter, delivering must-know SME updates straight to their inbox. From interviewing Wetherspoon's boss Tim Martin to spotting data-led working from home trends, her insight has been featured by major trade publications including the ICAEW, and news outlets like the BBC, ITV News, Daily Express, and HuffPost UK. With a background in PR and marketing, Helena is particularly passionate about giving early-stage startups a platform to boost their brands. That's one reason she manages the Startups 100 Index, our annual ranking of new UK businesses.
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