Penfold vs. Smart Pension

Penfold is the modern, engaging alternative to Smart Pension's pension scheme. Our financial wellbeing tools help employees take steps toward a happier, more financially secure future, while our team of dedicated account managers mean the questions that you and your team have aren’t left in the hands of AI.

Penfold gave us so much more support than Smart Pension. I was worried getting the whole team set up would be stressful but the Penfold team sorted everything out for us.

Pok Hay Ng

People Lead at Elvie


Penfold vs Smart Pension

Find the right workplace pension scheme for your organisation with a full pension feature and fee comparison


These returns are based on data collected by investment advisors DWA from a variety of sources including individual providers and data published on Morningstar. The returns for Penfold are based on a customer being invested in our Standard Lifetime (default) plan. The competitor returns are also based on customers invested in their default plans. DWA have estimated the Returns (Gross) based on available information for a member with a typical pot size of £10,000 and an average salary of £30,000. These are annualised returns are based on data from March 2020 to March 2023. DWA have estimated the Returns (Net of fees) net of all costs and charges based on available information for a member with a typical pot size of £10,000 and an average salary of £30,000. Actual returns may vary depending on a variety of factors including specific costs negotiated by a member's employer, actual pot size and actual salary. Where possible we have used actual return series available, though in assumptions have been made based on the underlying funds because of poor data availability and this may also result in some variance. The effect of charges have been applied to the return series on a monthly basis via a subtraction/addition of the proportionate amount, this may create small discrepancies with actual experience depending on charging structure. DWA are happy to correct any discrepancies should evidence be provided. Past performance is not indicative of future returns. The value of investments can rise and fall, you may get back less than you put in

Smart Pension Comparison

A detailed look at what makes Penfold’s pension scheme different

Support from real humans

You can rely on our pension experts, not AI-generated responses

Support from humans

Pensions are complicated. Most employees want to speak to a human that understands them, and can help them introduce changes to their pension right away.

In-person and online launch events

In-person and online launch events get your employees excited about your pension scheme: the most expensive and overlooked benefit your company has to offer.

Weekly check-ins

Our account managers run weekly check-ins to help manage our customers’ pension schemes and maintain an engaged employee experience hassle-free.

Financial Wellbeing

Help your employees secure a happier, more financially secure future

Financial wellbeing workshops

We run workshops that help our members understand how their pensions work and how they can save for later life.

Employee financial support

Guide your employees through the cost of living crisis and help them save for the future with tools to uncover their financial situation and outlook.

Tax efficiency support

Whether it’s through salary sacrifice or adjustments to contributions, we work closely with every customer to find the most tax-efficient set up for them.

Fund performance

Introduce your employees to a well-performing fund

Fund performance

Backed by HSBC and Blackrock, our well-performing fund delivered a stronger overall return on members’ savings than Smart Pension between Dec 2019-2022, even when our higher management fees are factored in.*


How to choose a new workplace pension scheme

Step 1

Identify what you need from a pension scheme. Where has your previous provider fallen short? What should the pension do for you and your employees? Decide on the flexibility and features you need to support your employees long-term.

Step 2

Explore your options. Which providers meet your requirements, and which providers exceed them? What support do they offer to help you get the pension set up, or is it up to you to communicate with employees?

Step 3

Launch the scheme. Work with your new pension provider on a plan to introduce the scheme at your organisation and encourage as much employee engagement with their pension as possible. At Penfold, our account managers make the switch easy.

Join Penfold and bring financial wellbeing to your team

Give your team a top pension and boost their financial wellbeing

Boost your benefits package to keep and tempt the best talent

Get industry-beating account management at no extra charge

Book a Demo