The flexible pension for freelance parents

Penfold provides freelancers with an online pension that's simple to use & completely flexible. Sign up below and get a £25 bonus from us. FCA number 826097.

Penfold application on yearly goal screen

As with all investments, capital is at risk.

Flexible, simple & easy to use

We know running a business & home-schooling the kids leaves you short on time. You can set up your Penfold pension in under 5 minutes.

And, forecasting your finances isn't easy when you're freelancing. That's why we're flexible around you: adjust, top up, change or pause your payments at any time — instantly and online.

Earn a £25 bonus

Frankie & Steve have been friends with Penfold since the beginning. To thank them, we're offering their friends and the entire DIFTK community a £25 bonus to kickstart their Penfold pension.

Rewarding, simple and easy to understand: we take the stress out of saving for later.

Choose how much to save

Pick a growth profile

Receive your £25 bonus

25% tax relief

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.

Combine your pensions

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.

Join thousands of freelance parents already saving with Penfold

Tom

If you're freelance/ self employed, this is a must. You'll thank yourself later. Really easy to setup, add money, choose your investment options, and transfer existing pensions over. Amazing customer service too, really helpful explaining things if you are unsure.

Billy

Fantastic pension plan. Amazing for freelancers like myself, I know I can leave it going and not have to worry about my future. Highly recommend Penfold.

Hughie

The simplest possible way to get a pension set up if you're self employed. Setup took less than 5 minutes, and it just works - my money goes in, government money goes in, I can see everything at a glance - I genuinely can't see how it could be better.

Invest, track & save

Select your pension plan

We offer four Standard options, plus a Shariah and a Sustainable pension fund.

Set up your contribution

Finish setting up your Penfold pension with a contribution, either through Direct debit or bank transfer.

Earn your £25 bonus

We'll add a £25 bonus into your pension once your first payment has come out.

Project & forecast

Track your pot performance, and project your pension with our calculator tools.

Withdraw from 55

Withdraw easily online at 55. There's no restrictions with withdrawing a Penfold pension.

FAQs

Yes! If you are a limited company owner, you have the option to pay in through either or both business contributions and personal contributions with a Penfold pension. You can do this through regular and top up payments, via both Direct Debit and bank transfer.

Paying in through your limited company is known as a business, or employer contribution. Because employer contributions are an allowable business expense, you can offset pension contributions when you complete your Company Tax Return to reduce your corporation tax bill by up to 19%.

Paying in through personal contributions means that your contribution will receive a 25% tax top up from the government. The government’s 25% tax relief is essentially paying back the income tax you’ve already paid on that contribution. For example, if you pay £100, the government will add £25. Tax treatment does depend on your individual circumstances & may be subject to change in the future.

Penfold is regulated by the Financial Conduct Authority (FCA), number 826097.

This means that by law, we have to abide by all the rules set out by the FCA. These guidelines help keep your pension secure. You can read more about the FCA and its regulations here.

Penfold is also a part of the Financial Services Compensation Scheme (FCSC).

In the very unlikely event that something were to happen to Penfold or our partners (BlackRock and Lloyds bank), the value of your pension is protected up to a maximum of £85,000 per individual.

When you pay money into your pension, it is kept entirely separate from any of Penfold's own money. It is held in your name in a Lloyds Bank Account specifically for 'client money', which is controlled by a regulated third party custodian. From there, it is invested in fund managed by Blackrock, one of the worlds largest money managers.

You can read more about how Blackrock manages your money, by clicking the link below.

The Penfold Pension is operated and administered by Gaudi Regulated Services Limited, who are authorised and regulated by the Financial Conduct Authority. If something happened to Penfold, your pension would still exist, and Gaudi would get in touch to explain how you manage it in the future if somehow there was no Penfold online portal. You could move your money to a different pension provider for no charge. Penfold is also FSCS protected, so if something happened to Penfold, Gaudi and BlackRock, with a valid claim your money is covered by the government up to £85,000.

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