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Our mission
Helping everyone save enough to be comfortable in later life
Pensions are a huge societal problem with two route causes:
- People don’t understand pensions
- People hate dealing with pensions
So 82% of people aren’t saving enough for retirement, according to The Institute for Fiscal Studies.
Helping people save more for the future
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 Traditional providers, with their outdated products and poor customer service, have put people off saving.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.
Our vision
How we help everyone adopt healthy saving habits
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
Our story
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.
Expansion
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.
Welcoming workplace
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.
The future is bright
We've got over 100,000 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.
Backed by the best
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. We’re currently crowdfunding again on Crowdcube.
Our awards
Best Workplace Pension Solutions Provider
SME News UK Finance Awards 2023
Best Pension Platform
YourMoney.com 2022 & 2023 Awards
Excellent Rating
Trustpilot Pension Category 2020-2023
Our latest mentions
Penfold Launches ‘Free of Charge’ Pensions Platform for UK Accountants
Read the full article on The Fintech Times
Former Gousto Product Manager, Barry Pace, Joins Penfold as New Head of Product
Read the full article on Fintech Finance News
Penfold launches industry-first Adviser Portal and service for business advisers
Read the full article on Fintech Finance News
Digital pensions platform Penfold raises $8.5M Series A led by Bridford Group
Read the full article from Techcrunch
UK’s Penfold, the Digital Pension Platform, Secures £1,847,409 via Crowdcube
Read the full article on Crowdfund Insider
Penfold’s workplace pension launches to 100 UK businesses
Read the full article on Fintech Finance News
Penfold creates positive pension advertising with new Outdoor campaign ‘The future’s worth saving for’
Read the full article on Fintech Finance News
Penfold partners with Nest Insight on auto-save for freelancers' retirement
Read the full article from AltFi
Penfold receives full pension operator permissions and launches digital tracing service
Read the full article from TechRound
Starling Bank adds Penfold to marketplace as it bolsters SME offering
Read the full article from AltFi
Start-up Penfold promises five-minute pensions for the self-employed
Read the full article on This Is Money
Join Penfold
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.
Join Penfold and bring financial wellbeing to your team
Give your team a top pension and boost their financial wellbeing
Boost your benefits package to keep and tempt the best talent
Get industry-beating account management at no extra charge