Pensions are a huge societal problem with two route causes:
So 79% of people don't save enough for retirement, according to the Pensions and Lifetime Savings Association.
We believe that the pensions industry is broken. Traditional providers, with their outdated products and poor customer service, have put people off saving. The world of work is rapidly changing and the pensions industry is falling further and further behind.
The result is we're living through a silent savings crisis. We started Penfold to address this crisis and get more people saving more for their future by making pension saving easy, accessible and engaging.
We've done away with the legacy systems and processes that old-school providers are built on, starting from scratch with our purpose-built pension platform which:
Brings clarity and confidence about pensions
Creates a sense of security about savers’ financial future
Increases visibility of savings and investments
Gives a sense of ownership and control over money
Helps savers’ understand the when, why and how of pensions
Offers a seamless and low friction experience
Has fantastic customer service when you need it
We started as the pension for the self-employed in 2019. Up to 80% of self-employed people weren't saving into a pension. We set out to solve that by building a flexible and straightforward pension that got self-employed saving.
We expanded our pension to all individual savers in early 2021. Our pension can help everyone contribute, transfer and engage with their pension savings. We started focusing on limited company directors and those in full-time work as well.
We launched our workplace pension in Autumn 2021. Pensions are one of the most expensive benefits companies offer. They don't work for employers or employees. We started offering the future of workplace pensions and have been listed by The Pensions Regulator.
We've got over 75,000 users and thousands of business clients. And we've still got so much further to go to make sure everyone is saving enough for a great retirement.
We're backed and supported by some of the most experienced fintech investors and entrepreneurs in Europe. Our investors include venture capital firms Plug & Play Ventures and Force Over Mass Capital, as well as early backers in some of technology's biggest names like Spotify, Dropbox, Adyen and Funding Circle.
In May 2021 and July 2022, we were thrilled to offer our customers a chance to invest in the business too via our crowdfunding campaigns, reaching our targets in less than 24 hours.
YourMoney.com 2022 & 2023 Awards
Trustpilot Pension Category 2020-2023
Good Money Guide 2022 Awards
Our team is focused on building an amazing pension experience - creating a world where everyone is confidently saving for the future they want. See what it's like to work with us and our current opportunities.
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