Penfold vs. The People’s Pension
Penfold is the tech-focused, engaging alternative to The People’s Pension’s basic out-of-the-box pension. Our pension experts and employee tools help your team understand, access, and make changes to their pension so they can save for a more financially secure future.
Penfold vs The People's 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
The People’s Pension Comparison
A detailed look at what makes Penfold’s pension scheme different
Give your employees access to a pension they’ll engage with and appreciate
A dedicated app
Penfold’s app shows employees how their pension fund is performing, how they’re tracking to saving goals, and how their funds are being invested.
Easy for employees, easy for you
Getting stuck trying to solve 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 pension that cares about your employees’ experience
Online and in-person launches
Make a great impression and show the value of your pension scheme with an in-person or online pension launch.
Speak to an expert right away
We won’t leave you hanging. Get in touch via phone, email or Slack.
Solving pensions for good
We offer all the compliance, tax efficiency, and payroll support you need to build a pension that works for your organisation.
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 The People’s Pension based on annualised returns between March 2020 - March 2023, even when considered net of fees.
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