Think pensions are complicated, boring, and a headache to manage? Not anymore.
Penfold makes it simple for directors to make tax-efficient contributions, track down and combine old pensions, and remove admin with automated salary sacrifice – all in one modern app.
As with all investments, your capital is at risk.
Your company profits don’t have to sit idle. Contributing to a pension is a smart, tax-efficient way to put them to work:
Make flexible, tax-free contributions: Pension contributions from your limited company are classed as a business expense, so you won't pay any tax on these contributions. You can choose to make flexible contributions whenever cash flow
allows, so you stay in control.
Save between 19-25%: Business contributions are deductible from your corporation tax bill. If your business makes a profit below £50,000 you can save the small profits rate of 19%. Therefore £1,000 paid into your pension cuts your tax bill by £190.
Use your allowance: Your company contributions aren’t limited by your personal salary, meaning more in your retirement pot. For most people, pension contributions are capped at £60k or their yearly salary, whichever is lower. As a limited company director, your business can contribute into your pension without the salary restriction.
Tax treatment depends on your individual circumstances and may be subject to change in the future.
Open an account
Every job usually means a different pension provider, and your pots
can end up scattered. Penfold can round them up for free, so you see all your retirement savings in one spot.
Missing pension details? No problem. With our Find My Pension
service, just give your employer’s name and we'll track down
the details for you.
Company contributions reduce your Corporation Tax and grow your pension. Win, win.
Lost track of your old pensions? Penfold can help pull them together for free, so you don’t miss out on retirement savings.
Flexible payments let you top up whenever cash flow allows, so you can save more when profits are up and ease off.
Choose Sharia-compliant funds or invest in companies with sustainability goals, so you can invest in line with your values.
Track how your pension is growing and see how today’s contributions could shape your retirement.
Salary sacrifice and built-in checks keep your contributions on track without the extra admin.
Skip the long queues. With Penfold, you get the support you need, when you need it. From pension experts.
Your pension is FCA regulated and FSCS protected, keeping your savings safe and giving you peace of mind.
It’s important to compare providers’ fees and any guaranteed benefits when deciding on whether to transfer, and be sure that the investments available are suitable for you. If your employer is paying into your pension currently, transferring that pot may mean you lose out on their contribution.
With investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice and past performance is not a reliable indicator of future performance.
You can pay into your Penfold pension through your limited company, which is known as a business, or employer contribution. Because employer contributions are an allowable business expense, you can offset pension contributions when you complete your Company Tax Return to reduce your corporation tax bill by between 19-25% dependant on your company profits.
Usually the maximum amount a self-employed person can contribute into their pension is their total salary, if they earn less than £60k a year. However, as a company director paying into your pension, you can contribute the full £60k into your pension, regardless of your salary, and claim the 19% reduction in corporation tax on top!
Yes! As a Limited company director, you have the option to pay in through either or both business contributions and personal contributions with a Penfold pension.
You can do this through regular and top up payments, via both Direct Debit and bank transfer.
Paying in through personal contributions means that your contribution will receive a 25% tax top up from the government. The government’s 25% tax relief is essentially paying back the income tax you’ve already paid on that contribution. For example, if you pay £100, the government will add £25. Tax treatment does depend on your individual circumstances and may be subject to change in the future.
To set up paying through business contributions, when you get to the final page of the set-up process, swipe the ‘business’ toggle.
The page will then prompt you to enter your limited company bank details and setup a Direct Debit with your business.
You can then adjust, pause and top up your pension through your limited company bank account via Direct Debit and bank transfer.
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%, depending on the plan you choose, on the portion of your savings over this amount.
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.
At Penfold we don’t hold or manage your money. Anything you pay into your pension with us first goes into a secure account held by a custodian bank. It’s held here for usually just one business day before being used to buy into your investment plan, managed by some of the world’s largest money managers.
Here’s an 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.
We have appointed BlackRock and HSBC as your money managers, two of the biggest names in investment management.
The day-to-day management of your investments is done by these money managers who, although appointed by us, act independently of us, to try and ensure that your investments perform well.
Penfold is a registered pension administrator, authorised and regulated by the Financial Conduct Authority (FCA), number 826097.
Penfold is also a part of the Financial Services Compensation Scheme (FSCS). With the Penfold Plan, your entire pension is fully protected by the Financial Services Compensation Scheme, no matter how much you’ve saved. If the provider, Blackrock Life Funds, were to fail we would seek to recover 100% of any loss suffered by you. All our other plans are protected up to £85,000.
As a digital pension provider, we understand that many people want to know how their personal information is kept safe.
To safeguard your data, we use the latest security technology and maintain strict internal practices every step of the way.
We also comply with General Data Protection Regulation (GDPR) guidelines. We'll never share your information with anyone else without asking you first.
Penfold has a financial arrangement with Intelligent Payroll regarding members that Intelligent Payroll introduces to the Penfold Pension.
Please contact hello@getpenfold.com if you would like more information.
