Penfold have the tools and service to make you think and feel confident about your future, and help you make the right decisions along the way.
Emma Bagshaw, Writer
The future of workplace pensions is here
Engage, attract and retain the best talent with a tech-first pension that helps your team secure their financial future.
Save money with salary sacrifice
Cut your business and employees tax bills with a tax efficient pension.
By offering pension contributions through salary sacrifice, employees get to keep more of what they earn by lowering the amount of their income subjected to National Insurance.
Salary sacrifice also reduces the amount of National Insurance a company owes. The bigger your team (and the more your employees earn), the more you save.
We can implement salary sacrifice for your team with free, personalised, consultations. Speak to an expert to find out more.
Why Penfold Workplace?
Digital, fast-growing businesses love Penfold for our:
Easy-to-use app
Discover the intuitive pension app that your employees will love. Find and combine old pensions, set savings goals and get a notification whenever your employer contributions land.
Sustainable funds
Let your employees save in line with their ethics with investments that aim to make a positive impact on the world without sacrificing growth. Or they can choose from our Lifetime, Standard or Sharia funds.
Dedicated support
Enjoy 1-2-1 account management and support from our friendly team of pension experts. Always available online, on the phone or directly via your Slack or work chat.
Education programme
Access free training and workshops to improve your teams' financial literacy and support their wellbeing. We provide guides, videos and FAQs so your team gets the most value out of your most expensive benefit.
Engage, attract and retain the best talent
Boost your employer brand with a better pension scheme.
90% of UK workers say their company pension influences whether they stay or leave their current role.*
Get a free pension consultation so you can design the right scheme for your business, benchmark your current scheme against your peers and step up your pension offering as you grow.
*Based on a 2022 survey of 2,000 UK employees.
Level up your benefits package
Keep your team happy and engaged with a pension they’ll love.
Support your teams’ financial wellbeing with an engaging pension experience they’ll use and appreciate.
Help your team reach their retirement goals with our highly rated app with goal setting for contributions, a track-and-transfer service for complete visibility of savings and a forecast tool to understand their future pension pot.
Access a free of charge education programme to improve your teams’ financial literacy.
Speak to a real human, whenever you need to
Industry-beating account management at no extra charge.
Jargon-free pension support is only a phone call away with dedicated 1-2-1 account management that offers payroll support and weekly check-in calls.
Switching is easy with fully-managed onboarding for your team.
I really can’t imagine losing the visibility and slick experience Penfold's app provides and so will be sticking with Penfold throughout my career.
James Bardwell, Executive
Penfold opened my eyes to what value a pension can actually bring you. I now have full control with Penfold as my source of truth for all pensions!
Laura Barr, Manager
Ready to switch?
We’ve helped hundreds of businesses change providers so we know how to deliver an accurate and efficient switch over for you and your team.
Fully managed by us
We do the work involved in switching you over, including contacting your current provider to initiate the change and un enrolling your employees.
Help with communication
We provide a suite of guides, templated emails, FAQs and dedicated account management to support you and your team throughout.
You set the pace
We can work to your timelines. The switchover can be completed within a few weeks or stretched over a quarter. It’s entirely up to you.
FAQs
Yes, you can set Penfold up to send us information straight from your payroll provider. Your Penfold Account Manager can set this up for you. Alternatively you can send us a copy of your payroll and we can upload this to our databases.
How much does Penfold cost for employers?
Penfold Workplace is completely free for employers. We don't charge anything to manage your pension scheme and all additional services (like pension transfers and employee education) are included.
What about for our employees?
Our single, all-in fee is charged to employees - they'll pay a yearly rate of 0.75-0.88% (dropping to 0.4-0.53% on savings over £100,000) of their total pot. This yearly rate is made up of a pension administration fee plus an investment platform fee.
Pension administration fee, paid to Penfold and our partners for administering your pension:
- For amounts under £100k - 0.58%.
- On the portion of savings over £100k - 0.23%.
Investment platform fee, for investing your money:
- Lifetime, Standard and Sustainable plans - 0.17%, paid to BlackRock.
- Sharia plan - 0.30%, paid to HSBC.
The Sharia plan investment platform fee is inclusive of a 0.2% subsidy from Penfold, following the restructure of the underlying HSBC fund, which will expire on August 30th. We are currently working on extending this or finding another fund at the same price, but the fees on this plan may increase. We will provide at least one month notice for any such change.
Read more about our pension plan fees.
Penfold is a registered pension administrator, authorised and regulated by the Financial Conduct Authority (FCA), number 826097.
Penfold is also a part of the Financial Services Compensation Scheme (FSCS). In the very unlikely event that something were to happen to Penfold or our partners (BlackRock and Lloyds bank), the value of your pension is protected up to a maximum of £85,000 per individual.
As a digital pension provider, we understand that many people want to know how their personal information is kept safe.
To safeguard your data, we use the latest security technology and maintain strict internal practices every step of the way.
We also comply with General Data Protection Regulation (GDPR) guidelines. We'll never share your information with anyone else without asking you first.
Join Penfold and bring financial wellbeing to your team
Give your team a top pension and boost their financial wellbeing
Boost your benefits package to keep and tempt the best talent
Get industry-beating account management at no extra charge