A mobile interface for Penfold's pension management app and a desktop interface for Penfold's pension processing platform. The mobile screen shows "Rose's Dashboard" with a total pot value of £12,994.54, options to transfer an old pension, and add money. There's also a prompt to combine an old pension and a forecast feature. The desktop interface welcomes back "Elevate Accounting Group" and prompts to upload files. Two dashed boxes offer to "Add employees only" or "Add pension payroll files" with drag and drop functionality. There are also options to download templates for enrolment and contributions, and a section for the last upload.

Top-Rated Alternative to Cushon for Workplace Pensions

Penfold and Cushon are both strong workplace pension providers. Where Penfold stands out is combining competitive fund performance with a modern, easy-to-use experience that helps employees engage more with their pension.

With a simple fee structure, intuitive technology, and hands-on support, Penfold helps businesses offer a pension employees actually value.

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A comparison chart between Penfold and Cushon pension providers. Penfold offers a group personal pension with a 5-star Defaqto rating and a 4.7-star Trustpilot rating, while Cushon offers a master trust with a 5-star Defaqto rating and a 4.6-star Trustpilot rating. Both have no employer or adviser fees and provide services like managed onboarding, compliance support, salary sacrifice support, payroll integrations, payroll processing, and pension benchmarking. Penfold also includes a dedicated account manager and launch events.

Why Businesses Choose Penfold Over Cushon?

Highly Rated
Penfold proudly holds a 4.7-star rating on Trustpilot, showcasing our commitment to outstanding customer satisfaction and service excellence. Additionally, our 5-star Defaqto rating underscores the strength and quality of our pension offering for businesses.
Streamlined Payroll with Advanced Tech
Save time and improve the quality of your client service by quickly and easily running payroll contributions with our advanced tech.
Seamless Compliance Made Simple
Stay in control and ensure compliance with total visibility over contributions, opt-outs and payments.

A comparison chart of default fund performance between Penfold and Cushon (My Future Focus) over 5 years to 31 December 2025. Penfold’s gross returns are 9.3%, higher than Cushon’s 8.4%. Penfold’s net returns are 8.4%, compared to Cushon’s 8.6%. The chart uses colored bars to visually highlight the differences in annualised returns, showcasing Penfold’s superior performance.

Fund Performance That Supports Better Outcomes

Fund performance plays an important role in helping employees grow their pension savings over time.

Penfold’s default fund, managed by BlackRock, has delivered consistently strong long-term performance, remaining competitive with leading providers like Cushon.

But performance is only part of the picture. Engagement, contribution levels, and ease of use all play a critical role in long-term outcomes – areas where Penfold is designed to excel.

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.

A comparison chart between Penfold and Cushon pension providers. Both offer an app, sustainable and Sharia funds, and features like finding and combining pensions, savings goals, savings nudges, retirement income forecasts, financial wellbeing programs, and education programs. Penfold provides 10 investment funds, while Cushon offers 12. Employee annual management charges: Penfold at 0.75% (lower rates for balances over £100k), and Cushon at 0.65%. Neither has additional employee fees. Both providers have extensive features.

A Pension Experience Employees Appreciate

A Dedicated App
Penfold’s app allows employees to monitor savings in real-time, make contributions on the go, and access personalised financial insights - all with an intuitive, user-friendly interface.
Easy for Employees, Easy for You
Getting stuck trying to solve clients and employees’ pension problems? Our app helps employees find and combine other pensions, and make changes to their pension independently.
Built to Improve Financial Wellbeing
Our app was created to improve employees’ financial wellbeing, by giving them all the information they need to save for a financially secure future.

A composite image featuring a laptop and smartphone displaying Penfold’s pension management interface, alongside two colleagues working together in an office setting. The laptop screen shows an employee management dashboard, while the phone displays a personal pension overview. In the background, a man in a yellow sweater works on a laptop, and a woman holding a coffee cup smiles while engaging with him. The setting is a modern, well-lit office.

What Makes Penfold Stand Out?

Higher Ratings
Penfold’s 5-star Defaqto rating reflects its strong offering and quality of service, while its Trustpilot rating demonstrates customer satisfaction with its personalised support and modern tools.
Speak to an Expert Right Away
We’re here to support you throughout payroll processing with hands-on support from a dedicated expert. No call centres and no hold music.
Built for Engagement, Not Just Investment
Higher engagement can lead to increased contributions and better long-term outcomes – something traditional providers often overlook.

Penfold's user-friendly approach and transparency revolutionised how we manage pensions for our clients. Penfold has come in and changed the space, showing that we could have a pension that was user friendly as well. It's really adding value to not only the employers themselves but the employees of those employers. The app is the big selling point with Penfold, having a nice clean UI that’s easy to understand for people because the vast majority of people aren’t pension literate.

Ben Nacca

Founder, Cone Accounting

Cone Accounting