Our single, all-in fee explained

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 on the portion of your savings over this amount.

For Standard and Sustainable pension options

If you've selected any of our four Standard plans or Sustainable plan, your pension is invested with BlackRock. This means your annual management fee is 0.75%, which includes Penfold's administration fee and the fund manager fee.

If your pension pot size is larger than £100,000, we've reduced the fee to 0.4% on the portion of your savings that are over this amount.

For our Sharia pension option

If you've selected our Sharia plan, your pension is invested with HSBC and your annual management fee is 0.88%. This includes both our administration fee and the fund manager fee.

If your pension pot size is larger than £100,000, we'll reduce the fee to 0.53% on the portion of your savings that are over this amount.

We calculate & take your fee monthly

Our annual management fee is taken from your pension pot in 12 monthly instalments. We calculate the fee every day based on the average value of your pension pot, add it together at the end of the month, and charge it around the 12th of the following month.

If you'd like to see how our fees compare to other pension providers, head here.

If you’re an existing customer, you’ll see these changes reflected in our Charges Guide.

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