Penfold’s workplace pension is now built directly into Deel. UK employers can set up and administer a Penfold pension alongside payroll and HR, while employees can see their pension balance and latest contributions without leaving the platform.
Payroll and HR software is where most of the working day already happens. Logging in, checking a payslip, booking leave. A workplace pension often sits apart from all of that, in a separate portal employees barely visit and employers have to manage on the side.
That’s the gap this next phase of our partnership with Deel is closing. The integration, set up and managed through Deel Retirement, brings Penfold’s workplace pension into the Deel platform itself. It combines Deel’s payroll and HR technology with Penfold’s workplace pension infrastructure and expertise, for a more connected experience for businesses managing their people, payroll and employee benefits.
Research from the Living Wage Foundation suggests around seven in ten UK workers saving into a workplace pension still aren’t saving enough to reduce their risk of poverty in retirement. That’s a significant number, and it’s part of why we think pensions need to be easier to see, not just easier to pay into.
Penfold has grown quickly since launch. Our assets under administration have passed £1.5 billion, up over 72% in the past year alone, and we now support more than 5,000 UK employers. Deel supports over 40,000 customers across 150+ countries, and is working with us to bring this growth in workplace pension adoption into its platform for UK customers.
For employees, the aim is a simpler, more connected pension experience. Seeing their savings in the Deel platform they already use at work makes it easier to understand their contributions and keep on top of their pension.
Chris Eastwood, CEO of Penfold, said:
“Employers increasingly expect payroll, HR and workplace benefits to work together rather than as separate systems to reduce administration for businesses. Payroll platforms are increasingly becoming the operating system for managing people, and workplace pensions should be a natural part of that experience.
By deepening our partnership with Deel, we’re making it easier for employers to provide a high-quality workplace pension without adding unnecessary complexity. At the same time, employees can see their pension alongside the other tools they already use at work, making it easier to stay informed, understand their contributions and engage with their long-term savings.
This partnership is an important step towards making workplace pensions feel like a seamless part of running a business and a more visible, accessible part of employees’ financial lives.”
Nick Thomson, General Manager, Benefits at Deel, said:
“Benefits are becoming a genuine competitive advantage in how businesses win and keep talent, not just an administrative box to tick. Too many employers are still stitching together pensions, payroll and HR across separate systems that don’t talk to each other. By building Penfold directly into Deel, we’re turning workplace pensions from a compliance afterthought into something that helps our customers stand out, simpler for HR teams to run, and a better experience for the employees who rely on it. It’s something we’re already solving for retirement in the US, and we’re glad to bring the same thinking to the UK.”
At Penfold, we believe pensions should be easier to find, easier to understand and easier to keep track of.
Building Penfold into Deel is another step towards that. Employers get one less system to juggle. Employees get a clearer view of what they’re building, in a place they already visit.
Because a good workplace pension should fit into everyday work, and help people feel more confident about what comes after it.
