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
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 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