Introducing the Better Pension Badge

A good workplace pension offering deserves more than a quiet mention in the benefits handbook.

Some employers are putting real thought into what they offer. They're contributing more, offering salary sacrifice to help employees make tax-efficient pension contributions, and helping their teams understand what they're saving towards.

We think that deserves recognition.

That's why we're launching the Better Pension Badge, a new Penfold accreditation celebrating employers who go beyond the minimum and giving others a benchmark to consider when reviewing their own workplace pension offering.

Who qualifies for the Better Pension Badge?

Under the government’s automatic enrolment rules, the minimum total workplace pension contribution is 8% of qualifying earnings, with employers required to contribute at least 3%.

The Better Pension Badge celebrates businesses that go beyond these requirements, whether through higher contributions, better pension design or helping employees understand their savings.

We assess employers across five key areas:

• Employer contributions: How much the business pays into employees' pensions
• Pension design: Which earnings pension contributions are based on
• Salary sacrifice: Whether employees can use salary sacrifice to make contributions
• Pension education: Whether employees receive regular support to understand their pension
• Ongoing support: Whether employers review their pension and actively communicate the benefit to their people

The accreditation is free and available exclusively to existing Penfold employers. Each business is assessed against the requirements for our four badge levels, with accreditation reviewed annually.

Download the full accreditation criteria.

Four levels of recognition: Platinum, Gold, Silver and Bronze

From Bronze to Platinum, each level recognises a greater commitment to employees' financial futures.

Bronze is the starting point for employers who go beyond the minimum through their pension contribution structure and salary sacrifice.

Silver takes things further, with higher employer contributions and annual pension education.

Gold reflects a greater investment in employees' retirement through higher employer pension contributions.

Platinum is our highest level, combining generous contributions with regular education, active communication and ongoing pension reviews.

Why does the Better Pension accreditation matter?

A great workplace pension offering is something employers should be proud of. But it isn't always easy for employees or prospective candidates to understand what makes one employer’s pension offering better than another.

The Better Pension Badge gives businesses a way to demonstrate the value of what they're offering, based on criteria set and assessed by Penfold. It helps make their investment in employees' financial wellbeing more visible, while giving People teams something tangible to point to when talking about their benefits.

For employees, the real value comes from the pension behind the badge. Higher contributions can mean more money going into their retirement savings, while better education and communication can help them understand and make more of their pension.

Meet our first Better Pension Employers

We're delighted to announce the first eight employers to receive a Better Pension Badge.

Platinum

• Cazoo
• Datatonic

Gold

• AmberWolf
• Employment Conditions Abroad
• Uncommon

Silver

• KnowBe4

Bronze

• Entrepreneurs First
• Paddle

How we're helping more employers improve their pensions

The Better Pension Badge and its criteria give businesses a clearer picture of what a great employer’s workplace pension offering looks like and what they can work towards.

Whether it's increasing employer contributions, reviewing how pensions are calculated or offering more regular pension education, Penfold's tools, resources and guidance can help employers make meaningful improvements.

If you're already with Penfold, get in touch with our team to find out whether your business qualifies for accreditation.

Or if you're not with Penfold yet, we'd love to show you how we can help you provide a better workplace pension offering.