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The flexible pension for hospitality workers

Penfold provides hospitality workers with an easy-to-use pension. Contribute flexibly, get automatic tax relief and use our specialist transfer service to combine old pensions for you.

In support of Hospitality Rewards, get £25 into your pension using code 'hospitality21'.

Get started now
Download at the Google Play Store
Download at the Apple App Store
Penfold apps showing pension dashboard and contribution history screens

As with all investments, your capital is at risk

The flexible
pension for
hospitality
workers

Penfold provides hospitality workers with an easy-to-use pension. Contribute flexibly, get automatic tax relief and use our specialist transfer service to combine old pensions for you.

In support of Hospitality Rewards, get £25 into your pension using code 'hospitality21'.

Download at the Google Play Store
Download at the Apple App Store

As with all investments,
your capital is at risk

Penfold apps showing pension dashboard and contribution history screens
Pension performance track record and screen showing Blackrock and HSBC fund management

Simplified savings

Running a business likely leaves you short on time, research says that only 14% of self employed people are saving into a pension. You might be focused on the day to day needs of your business, but it’s important to think about the future too.

Employees reap the tax rewards of a pension automatically, thanks to pre-tax contributions from their employer. What many don't realise is that the self-employed can take advantage too - you just need to start your own pension first.

That’s why we built a modern pension that takes only 5 minutes to set up and is effortless to use. Contributions can be made whenever you like, we automatically apply tax relief and you can choose four high performing funds to grow your savings.

Get started now

Join thousands of self-employed savers

Zoe

As a self employed childminder, I took about four years to be earning enough to afford a pension. I was very unsure but Penfold makes it especially easy. The app is so easy to use and set up the initial account, with a fantastic calculator that gives you a good idea how much you need to contribute at the exact stage of your pension.

Any queries are answered online within the day. Five stars from me!

Alex

Just brilliant! So easy to use. Customer Service second to none! Responses. Yes! Responses to your enquiries, quickly and in a language we all understand - common sense.

Why oh why!? can't so many other companies be like this. Thrilled and delighted and in control. It's great.

Hannah

It was so simple to set up and the team were able to transfer in my existing pension pots for me without hassle. Everything is clear and easy to understand, which is a relief when traditional pensions can be confusing.

Penfold apps showing pension transfer and find lost pension screens

Transfer old pensions

Previously worked as an employee? You probably have old workplace pensions that make it difficult to understand how much you have saved, and need to save, for retirement. There's the added stress of managing multiple old accounts and your savings may be invested in poor performing funds by default.

Combine your old pensions into a single Penfold account and you'll easily be able to see the total value of your savings and have access to our top performing funds. Transferring is free and our specialist team will manage it for you.

Once you've requested a pension transfer, we'll contact your previous providers and do the hard work for you. You'll be able to stay up to date with progress any time on your Penfold dashboard.

Penfold apps showing pension contribution and personal, sole trader and limited company payment account screens

Flexible contributions

Whether you’re a freelancer, sole-trader, contractor or business owner your earnings probably aren’t easy to forecast.

Penfold is designed to adjust to your finances. Once you’re set up you can change, top-up, or pause payments instantly and at any time. If you’re unsure about how much to contribute, our pension calculator will help you decide how much to save to get the retirement you want.

Even better - self-employed workers get a 25% tax relief top-up on contributions. We organise this for you, automatically adding it to your pension. Subject to annual allowance. Tax treatment depends on individual circumstances and may change in the future.

Penfold apps showing pension contribution and savings history screens

Optimise your finances

If you're a director or run a limited company you can make tax efficient pension contributions.

  • Tax-free: Pension contributions from your limited company are classed as a business expense, so you won't pay any tax on these payments.
  • Save up to 19%: Business contributions are deductible from your corporation tax bill. £1,000 paid into your pension cuts your tax bill by £190.
  • Maximise your allowance: Business pension contributions can be made without the tax-free salary restriction that most people are subject to.

Tax treatment depends on individual circumstances and may change in the future.

Top performing funds

Lifetime

Our most popular plan. Automatically adjusts investments to maximise early growth before protecting your pot as you approach retirement.

Standard

Complete control of your pension. Choose between four different risk levels - tailoring investments to fit your preferences and outlook.

Sustainable

Make a positive impact on the world without sacrificing growth. Invests your money into companies with a high ESG rating.

Sharia

Invest your money only into Sharia-compliant companies. All investments are approved by an independent Sharia committee.

Penfold apps showing self employed pension customer service chat screens

Your new pension

After your account is set up you'll get complete access to our modern app and online dashboard.

Find out how your pension is performing in real time, see details of our other investment funds and switch easily, make new contributions using bank transfer or direct debit and much more!

If you have any questions our friendly team of pension experts will be happy to help. Simply message us on our in-app chat, email or call - we promise no jargon!

How to get started

1

Get a Penfold account by registering your details online or with our app and use code 'hospitality21'.

2

Either, transfer an existing pension. Enter the provider name, policy number, an approximate value and tap submit. We’ll do the rest!

3

Or, pay in some cash with a one-off or recurring payment. Pause or adjust at any time.

4

All done! Easily check your savings progress, change investment plan and much more with our modern app or online dashboard.

5

Once you've topped up we'll add £25.

Get started now
Penfold apps showing pension account setup and welcome screens.

FAQ

My question isn’t here. See all FAQs ».

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.

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