One simple fee. No hidden charges
We hate hidden charges. That’s why we have one fair, transparent annual fee that covers absolutely everything within our service.
Completely free for employers
We don’t charge employers any fees to use Penfold. We only receive fees from your employees based on the value of their pensions and we keep charges low for them too.
For employers there are:
No account fees
No management charges
No contribution charges
No adviser fees
One fee covers everything for savers
Our plans offer a simple fee structure based on how much is saved in each pension pot and there are no charges on new contributions or to switch between plans.
- Penfold Plan, Standard and Sustainable plans
Charge 0.75% for savings up to £100k, and 0.4% on any amount over £100k.
- Sharia plan
Charges 0.88% for savings up to £100k, and 0.53% on any amount over £100k.
When pension fees are charged
Our annual fee is automatically taken from pension pots in 12 monthly instalments. The fee is split between:
- Penfold
For administering your pension.
- BlackRock or HSBC
For managing your pension, taken directly from the investment fund.
Everything's included
Our annual fee covers absolutely everything (read the Charges Guide for more detail) within Penfold’s pension service. There are no additional charges for the following services:
Setting up a pension
Transferring pensions into, or out of, Penfold
Making any type of contribution
Switching between our investment plans
