A modern alternative to Nest
More support for your business. More from your workplace pension.
Penfold combines dedicated support, payroll integrations and practical employer tools with an intuitive pension experience for employees.
Whether you’re setting up a new workplace pension or switching from Nest, we’ll help make the process straightforward.
Compare Penfold and Nest
Nest covers the workplace pension essentials. Penfold gives businesses more hands-on support and practical tools to help make managing a pension easier.
Compare Penfold and Nest across the features that matter to employers and their teams.
- Built for busy businesses
Manage employees, contributions and payroll from one place. Our platform helps reduce admin and keep your workplace pension running smoothly.
- Dedicated support
You’ll have a dedicated account manager who knows your business and can help with onboarding, payroll questions and ongoing support.
- More tools for your business
Employee reminders, an engagement dashboard, employer insights and compliance support help you stay on top of your workplace pension.
Comparing long-term investment performance
Investment performance can make a meaningful difference to employees’ retirement savings over time.
Over the five years to December 31st 2025, Penfold’s default fund delivered stronger annualised returns than Nest’s default fund, based on the latest available data.
Figures are net of investment fees but gross of provider fees. Past performance, actual or simulated, is also not a reliable indicator of future returns. All investments carry risk and your investment value can go up or down. Returns may increase or decrease as a result of currency fluctuations.
Figures for the Penfold Plan are based on a simulation, provided by BlackRock, of how the portfolio might have performed had these building blocks of the plan existed together over the last five years. It’s important to note that it cannot be definitively said exactly how this plan would have performed in the past. Simulations should not be taken as a guarantee of expected past or future performance, but are designed to be illustrative only. A full list of the assumptions made to generate the simulations is available and should be carefully considered.
The figures shown represent a weighted average of performance across 30 age cohorts (ages 36-65) to provide an overall view of member outcomes. Individual returns will vary depending on fund allocation at different points in a member’s investment journey, as well as personal fee structures. For consistency in comparison, returns have been estimated based on a typical pot size of £10,000 and an average salary of £30,000. Actual returns may differ due to factors such as specific employer-negotiated fees, individual pot sizes, and salary levels.
Returns are based on data collected by investment advisors DWA from a variety of sources, including individual providers and data published on Morningstar. Where possible, actual return data has been used; however, some assumptions were made based on underlying fund data due to availability limitations. The impact of charges has been applied on a monthly basis, which may create minor discrepancies with actual experience depending on the charging structure. DWA is happy to review and correct any discrepancies should further evidence be provided.
More ways for employees to engage with their pension
A workplace pension is more valuable when employees can understand their savings and take an active role in planning for retirement.
Penfold gives employees practical tools that go beyond checking a balance, from bringing eligible pensions together to personalised guidance and retirement planning.
- Everything in one app
Employees can view their pension, track contributions and manage their account whenever they need to.
- Bring pensions together
Old pensions can be combined into one account, making retirement savings easier to keep track of.
- Help employees plan ahead
Personalised guidance, tax-saving prompts, savings nudges and retirement forecasts help employees understand their pension and think about their financial future.
More support for employers. More tools for employees.
Penfold gives businesses the support and tools to manage their workplace pension with confidence.
Employees get an intuitive pension with practical features that help them understand their savings, bring pensions together and plan for retirement.
It’s more than the workplace pension essentials.
There's a lot of stuff you can do with Penfold that you couldn't do with Nest. Penfold gives employees immediate access to their pension rather than having to go through the payroll team to remind them of how to access their details or wait for paper letters. Penfold allows us to offer clients a better service. The simplicity of the Penfold app, the platform for accountants, and the personal touch the team bring – make all my monthly processes much easier.
