The flexible pension for hospitality workers managed on your phone

Penfold provides hospitality workers with an online FSCS protected pension that's simple to use & completely flexible. Penfold supports hospitality rewards, get £25 into your pension for opening today using code 'hospitality21'. Plus find old pension pots you may have lost. FCA number 826097.

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As with all investments, your capital is at risk.

Full flexibility for hospitality workers

When you’re self-employed, your finances aren’t easy to forecast.

Penfold is designed to be as flexible as you. Once you start saving, you can top up, change, or pause your payments at any time — instantly and online.

Effortless to use

In hospitality you're often short on time. So we built a pension you can set up in under 5 minutes.

Simple to use and easy to understand, we take the stress out of saving for later.

Choose how much to save

Pick a growth profile

Not even a step, just done.

25% tax bonus

Sole-traders and freelancers get a 25% tax bonus from the government on contributions. That’s guaranteed cashback on what you save and we organise it for you, adding it directly to your pension. We'll even provide you with all your contributions to make filling out your tax claim easy.

Tax treatment does depend on your individual circumstances & may be subject to change in the future.

Friendly, helpful & expert support

Pensions can be confusing. Our friendly team of experts will answer any question you have, and we promise no jargon.

No waiting lines, no call centres. Just drop us a message on chat, email us or give us a call any time.

Tesimonial from Jo Breeze: Literally every interaction I have with @getpenfold is a delight - real, friendly, informative and helpful humans at every turn.

Trace & transfer your pensions

You weren't always self-employed. If you have pension pots from previous jobs, we can find & transfer your old pension pots as easy as ever.

If you already have the details of your old pension, simply request the transfer from your dashboard and our team of experts will sort the rest. Or, use our pension tracing service to track down the details of your old pension pots.

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 self-employed people already saving with Penfold

How it works

Download our app or register online using code 'hospitality21'.

We help you decide how much to save and which plan is right for you.

Top-up your account by Direct Debit or by bank transfer. Pause or change any time. Once you've topped up we'll add £25.

We add your 25% tax bonus each month. Pension & tax rules apply.

Review your progress on our clear, online dashboard. Withdraw from age 55.

Penfold dashboard and risk selection screens

We keep your money safe

Separated

Your money is held by a third party custodian with Lloyds bank. If the event that Penfold became insolvent, your assets would be kept separate and transferred to another provider. Your investments are managed by BlackRock, the largest money manager in the world, and HSBC.

Secure

Your data is secure and protected by the most up-to-date technology and processes. We strictly follow GDPR guidelines.

Protected

Your pension holdings are protected by the Financial Services Compensation Scheme. In the event Blackrock, HSBC or Lloyds bank became insolvent, your pension is protected up to £85,000 per individual with an eligible claim.

Expertly managed

We offer three excellent performing plans, to take the stress out of investing and make pensions fuss free. Select from our Standard, Sustainable and Shariah plan, which are managed by the world's largest asset managers: BlackRock and HSBC.

Designed to work for the self-employed

Designed to
work for the self-employed

Professionally managed

Penfold pensions are managed by BlackRock and HSBC. Just pick one of six carefully created, low cost investment plans, and let your money work for you.

Built for the self-employed

Penfold is the first UK pension designed for the self-employed. Freelancer, sole trader, ltd company director – anything that means you’re your own boss.

Tools help you decide what to save

Our calculator does the hard work for you, helping you choose how much to save based on how much you earn.

Learn more.

FAQ

Our platform is based on giving you pension peace of mind. We believe you should know your savings are being looked after, no matter what the future holds.

We at Penfold don’t hold or manage your money. Anything you pay into your pension with us first goes into a secure account held by a highly regulated custodian bank. It’s held here for usually just 1 business day before being used to buy into your investment plan, managed by some of the world’s largest money managers.

Here’s the important thing to remember: Your savings are your savings. All of your pension is kept separate from us and belongs entirely to you. This means if anything were to happen to Penfold, your money can’t be touched by us or any of our partners. Your pot will be transferred to another pension provider, ready for your retirement.

With Penfold, the money you pay into your pension is invested. Your savings are used to buy a mixture of shares (part ownership in a company) and bonds (a loan with a guaranteed fixed interest rate) that will hopefully help your pot grow over time.

As with any investment, this involves risk. The value of your pension can go up as well as down, and you could get back less than you put in. However, greater risk can lead to greater returns. If you have a long time before retirement, investing over the long-term can help ease any short-term losses.

Check out this guide to learn more about investing risk.

We hate hidden fees and you probably do too. We'll only charge you one fair, transparent annual fee for managing your pension that covers absolutely everything within Penfold’s pension service.

You'll pay an annual fee between 0.75% and 0.88%, depending on the plan you choose. We'll automatically deduct a portion of your annual fee from your pension in 12 monthly instalments.

If your pension pot size is larger than £100,000 the fee is reduced to either 0.4% or 0.53% on the portion of your savings over this amount.

To read more about our fees, head here.

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.

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Get in touch

The Penfold team sitting amongst lots of plants

Our team is made up of experts in pensions, technology, security, operations and customer services. You can reach us any time on chat, by phone or on email.

0208 003 5908

hello@getpenfold.com