LoginGet started
LoginGet started

Pension contributions

Contribute flexibly

Penfold is designed to be tailored to your finances. Once you start saving, you can adjust, top-up, or pause your payments at any time - instantly in our app or online.

We give you the option to set up a recurring monthly contribution or make one-off payments whenever you like. You can add money by Direct Debit, instant payment using Open Banking, bank transfer or standing order.

Unlike some providers we allow you to save as much or little as you'd like - there are no minimum contribution or payment restrictions.

Pension contribution type and payment type screens in the Penfold app

Use tax benefits

Private pension savers receive a 25% government tax bonus on contributions into a pension. We'll automatically claim and apply this top-up. Pension tax relief explained.

Business pension contributions can be claimed as an expense, therefore savings into a Penfold account can be made tax-free. Self-employed pension contributions guide.

Director pension contributions are deductible from corporation tax. £1,000 saved into a pension will reduce a tax bill by £190. Director pension contributions guide.

Tax treatment does depend on your individual circumstances & may be subject to change in the future.

Penfold apps showing pension contribution and savings history screens

Calculate pension savings

Knowing how much to save can be half the headache with a pension, we've got you covered.

Use our pension calculator to help you decide how much to save into your Penfold pension. Simply enter your age, yearly earnings and current pension pot amount - we will indicate how much to save now and what you should expect to get later when you retire.

Pension calculator to calculate contributions screens in the Penfold app

Our site uses cookies.
Read our privacy policy.