Reduce Employer NICs: Salary Sacrifice Pensions
Compare the Top 10 Workplace Pensions
Find out how Penfold delivers standout fund performance, first-class support, and a seamless user experience – all at no cost to your business.
A workplace pension is the key to your business’s success
Running a workplace pension scheme isn’t just about meeting legal obligations – it’s a strategic decision that can set your business apart. The right pension scheme can streamline admin, simplify compliance, and even help you attract and retain top talent.
For employers, factors like ongoing support, payroll integrations, and fund performance are critical when choosing a provider. And while business needs are important, the best workplace pensions also deliver an exceptional experience for employees, empowering them to plan for a comfortable later life.
In the UK, providers like Nest, The People’s Pension, and Aviva are well-known names. But what if you’re looking for a provider that not only supports your business goals but also offers a modern, engaging experience for your employees?
We’ve compared Penfold, Nest, Smart Pension, and other leading providers to help you find the best workplace pension for your business.
Which workplace pension has the best fund performance?
Fund performance plays a crucial role in growing your pension value over time. Choosing a provider with strong returns can make a significant difference to your employees’ financial future.
This chart compares the gross and net returns of leading workplace pension providers, on an annualised basis in 5 year period to 31st December 2024, helping you evaluate their performance.
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’s default fund helps savers’ contributions grow efficiently over time.
For employers, 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 right pension provider should not only simplify administration but also enhance your employees’ financial well-being.
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. While other providers may charge setup fees or admin fees, Penfold offers value without compromise.
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?
The best workplace pension doesn’t just meet business needs; it should also provide employees with tools and resources to plan their financial future confidently. Features like app access, sustainable investment funds, and retirement forecasting can make a world of difference.
This table showcases how top providers support employees with features like financial well-being programs, savings nudges, and diverse investment options.
Verdict: Penfold stands out as a workplace pension employees trust
Penfold shines with its wide range of features designed to empower savers. With 10 investment funds, including sustainable and Sharia-compliant options, a user-friendly app, and features like retirement forecasting and savings nudges, Penfold equips employees to take control of 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
In this comparison, the clear choice is Penfold. With a seamless setup process, top-tier ratings, business-friendly features like payroll integration and compliance support, and an employee experience that empowers savers, Penfold sets a new standard for workplace pensions.
Whether you’re looking to simplify admin, attract and retain top talent, or provide your employees with the tools to plan for a comfortable later life, Penfold has everything you need in one modern, easy-to-use platform.
No matter which provider you choose, it’s essential to review your workplace pension regularly to ensure it continues to meet the needs of your business and employees. Staying informed about updates to pension regulations and employee expectations will help keep your scheme running smoothly, delivering crucial value.
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