Our single, all-in fee explained

We hate hidden fees, and you probably do too. That's why we only ever charge you one thing: your annual management charge (AMC). Nothing else, ever.

Lots of pension providers charge an AMC, then add extra fees on top: for paying in, switching investment plans, transferring your pension away, or simply for having an account. Those extra charges are easy to miss, and they add up over the years.

At Penfold, your AMC is genuinely the whole cost. There are no extra charges for:

• making contributions
• switching investment plans
• transferring your pension to another provider

How much you pay depends on how you joined Penfold and which plan you're on.

Your AMC combines the cost of managing your pension with the cost of managing your investments. We bundle these into one simple charge, so you don't have multiple fees to keep track of.

How we calculate your fee

We calculate your fee every day, based on the value of your pension pot. We add these daily amounts together at the end of the month, and take the total from your pot around the 12th of the following month.

And if you've got any questions about your fee, or anything else, just drop us a message on our online chat or by email here.