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Adjust, pause, top up your pension in line with your company cash flow anywhere, anytime.
Running a business leaves you short on time. Setup with Penfold online in just 5 minutes.
We hate hidden fees. You'll only pay one annual fee of either 0.75% or 0.88%, depending on your pension option.
Pension contributions from your limited company are classed as a business expense, so you won't pay any tax on these contributions.
Business contributions are deductible from your corporation tax bill. £1000 into your pension will reduce your tax bill by £190.
For non-company directors, the maximum pension contribution is limited to their total annual salary. With a limited company, you can contribute up to £40k and still claim the tax benefits.
Tax treatment does depend on your individual circumstances & may be subject to change in the future.
The government adds a 25% bonus to everything you save into a pension.
That’s guaranteed cashback on what you save and we organise it for you, adding it directly to your pension. Tax treatment does depend on your individual circumstances & may be subject to change in the future.
If you have other pension pots, we can bring them together in one place for you.
Tracking and consolidating your old pension pots with Penfold is easy, free of charge, and our friendly customer service will manage it on your behalf. Learn more about our transfer service here.
It is important to compare providers’ fees & any guaranteed benefits when deciding on whether to transfer, and be sure that the investments available are suitable for you. We cannot accept defined benefit pension transfers. If you decide to close your Penfold account and the value of your pot has gone down, the amount returned to the provider may be less than what you originally transferred.
Please know that if your employer is paying into your pension currently, transferring that pot may mean you lose out on their contribution. For more information on the risks see here.
Setup your contribution either through Direct Debit or bank transfer, or request a pension transfer.
Track your pot performance. Project and forecast your future with our calculator tools.
Withdraw easily online at 55. There's no restrictions with withdrawing a Penfold pension.
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Really impressed and grateful for an easy solution for a director of a limited company to set up a pension plan.
As a small company director with fluctuating income, the ability to increase/decrease or suspend payments is really easy from the website or from the iPhone app.
Very personal customer service. Friendly and helpful! Easy to understand app. Deposit and go!