Which workplace pension is right for your business?
We’ve done the research so you don’t have to. Compare top UK workplace pension providers across performance, features, and employee experience – and see why thousands are switching to Penfold.
A workplace pension that works for your business
A workplace pension isn’t just a legal requirement – it’s a benefit that impacts your team, your payroll process, and your business’s bottom line.
Choosing the right provider means less admin, easier compliance, and happier employees. Whether you’re setting up a scheme for the first time or looking to switch, this guide will help you make an informed decision.
We’ve compared the UK’s most widely used pension platforms across fund performance, cost, integrations, and support. Use this page to find the right fit for your business, your people, and your future.
Which provider delivers the best investment performance?
The investment performance of a pension plays a critical role in long-term employee outcomes.
Here’s a comparison of the gross and net returns of leading workplace pension providers, on an annualised basis in the 5 year period to 31st March 2025.
Figures are net of investment fees but gross of provider fees. Past performance, actual or simulated, is also not a reliable indicator of future returns. All investments carry risk and your investment value can go up or down. Returns may increase or decrease as a result of currency fluctuations.
Figures for the Penfold Plan are based on a simulation, provided by BlackRock, of how the portfolio might have performed had these building blocks of the plan existed together over the last five years. It’s important to note that it cannot be definitively said exactly how this plan would have performed in the past. Simulations should not be taken as a guarantee of expected past or future performance, but are designed to be illustrative only. A full list of the assumptions made to generate the simulations is available and should be carefully considered.
The figures shown represent a weighted average of performance across 30 age cohorts (ages 36-65) to provide an overall view of member outcomes. Individual returns will vary depending on fund allocation at different points in a member’s investment journey, as well as personal fee structures. For consistency in comparison, returns have been estimated based on a typical pot size of £10,000 and an average salary of £30,000. Actual returns may differ due to factors such as specific employer-negotiated fees, individual pot sizes, and salary levels.
Returns are based on data collected by investment advisors DWA from a variety of sources, including individual providers and data published on Morningstar. Where possible, actual return data has been used; however, some assumptions were made based on underlying fund data due to availability limitations. The impact of charges has been applied on a monthly basis, which may create minor discrepancies with actual experience depending on the charging structure. DWA is happy to review and correct any discrepancies should further evidence be provided.
Verdict: Penfold leads in workplace pension fund performance
With high gross and net returns, Penfold helps your team grow their retirement savings with confidence.
For businesses, offering a pension scheme with strong returns isn’t just about employee satisfaction; it’s about setting your team up for long-term success. With Penfold, you can feel confident that your employees’ savings are working as hard as they do.
Which workplace pension is best for businesses?
When choosing a workplace pension for your company, it’s essential to ensure it aligns with your needs for compliance, ease of setup, and support.
The table below compares some of the leading workplace pension providers in the UK, factoring in ratings from Trustpilot and Defaqto, alongside key features for businesses like dedicated account management, payroll integrations, and compliance support.
Verdict: Penfold excels among workplace pensions for businesses
This comparison highlights Penfold’s strong position for businesses. With top-tier Defaqto and Trustpilot ratings, Penfold goes above and beyond by providing features like managed onboarding, compliance support, and payroll integrations at no cost to businesses.
For businesses, the right pension isn’t just about meeting obligations; it’s about choosing a partner that supports growth and removes unnecessary admin stress. Penfold ensures that your pension scheme works for your business as much as it does for your team.
Which workplace pension is best for employees?
A pension is one of the most valuable (and underused) employee benefits. We've compared how each provider supports savers across app quality, education, support and withdrawal flexibility.
Verdict: Penfold stands out as a workplace pension employees trust
From a five-star rated app to jargon-free education, Penfold gives your team the clarity and confidence they need to save more for their future.
Employee pensions are about more than just compliance. They’re about helping your team feel secure and informed. Penfold’s thoughtful interface and focus on well-being make it a standout choice for employers looking to support their staff’s financial goals.
Setting a new standard for workplace pensions
Penfold combines powerful back-office tools for businesses with a modern app and top-rated support for employees.
Whether you're an SME, a growing startup or an accountancy firm advising clients, Penfold makes pensions easy to manage and more rewarding to offer.
Join thousands of businesses using Penfold’s workplace pension:
This comparison is based on publicly available information from provider websites as of May 2025, alongside our internal research. We do our best to keep this up to date and accurate. If you believe any information is out of date, please contact us.