Our £40k Giveaway is now closed

Congratulations! You've already been given 100 entries into the Giveaway

To keep things fair - we've entered all of our existing Penfold savers into the Giveaway automatically. Check your email inbox for more information.

Our £40,000 Giveaway is open to new and existing Penfold savers.

You must open a Penfold pension, (or already have one open) in order to be eligible. Just doing this gets you 100 entries into the draw.

You can't enter the giveaway multiple times by setting up multiple pensions. But you can earn more entries in other ways.

For every pension you transfer, you'll get 200 entries into our Giveaway. The entries are unlimited - transfer five pensions, get 1,000 entries!

Your transfer must be at least £100, successful, or considered in progress within a fortnight of the Giveaway closing.

And, when you use our My Forecast feature, you'll get 50 entries into the giveaway. These entry points can only be rewarded onnce.

Entries to our giveaway start on the 1st January, and end on the 19th March.

One winner will be selected using a randomiser after the 17th April.

The winner will be notified by email that they've won. The £40,000 bonus, consisting of a £32,000 contribution from Penfold and £8,000 from HMRC in tax relief, will be added to the Penfold pension of the winner after we've confirmed the details and allowances.

The winner must have a Penfold pension in order to receive the prize.

We hate hidden fees and you probably do too. We'll only charge you one fair, transparent annual fee for managing your pension that covers absolutely everything within Penfold's pension service. 

Our single fee is between 0.4% and 0.88%, depending on the plan you choose and your account value. We'll automatically deduct a portion of your annual fee from your pension in 12 monthly instalments.

Read more about our pension plan fees.

No, our transfer service is completely free. However, you may want to check with the provider you are transferring out from as they may have exit fees.

Our Should I combine my pensions? blog post contains four key points to consider when transferring your pension.

Our platform is based on giving you pension peace of mind. We believe you should know your savings are being looked after, no matter what the future holds.

We at Penfold don’t hold or manage your money. Anything you pay into your pension with us first goes into a secure account held by a highly regulated custodian bank. It’s held here for usually just 1 business day before being used to buy into your investment plan, managed by some of the world’s largest money managers.

Here’s the important thing to remember: Your savings are your savings. All of your pension is kept separate from us and belongs entirely to you. This means if anything were to happen to Penfold, your money can’t be touched by us or any of our partners. Your pot will be transferred to another pension provider, ready for your retirement.

With Penfold, the money you pay into your pension is invested. Your savings are used to buy a mixture of shares (part ownership in a company) and bonds (a loan with a guaranteed fixed interest rate) that will hopefully help your pot grow over time. 

As with any investment, this involves risk. The value of your pension can go up as well as down, and you could get back less than you put in. However, greater risk can lead to greater returns. If you have a long time before retirement, investing over the long-term can help ease any short-term losses.

Check out this guide to learn more about investing risk.