Our pension plans invest in a series of innovative funds provided, and managed, by BlackRock and HSBC. These funds invest across different markets around the world, offering a range of risk and return profiles to match each saver's goals.
The Standard Lifetime plan is our default fund. It automatically adjusts its asset allocation across three stages as savers reach retirement age.
This plan is suitable for the majority of savers who do not want to make their own investment or fund risk decisions. Its aim is to take savers through to retirement, delivering a low-cost and good value outcome.
During this stage the plan invests mostly in riskier assets like shares. These are typically more volatile which gives them the greatest growth potential over the long run, but in the short term can lead to losses. At this point, investors are a long way from retirement which gives plenty of time to recover from short term drops.
Once a saver reaches the age of 60, the plan starts to shift their funds from shares to more stable investments like bonds.
When a saver starts drawing on their pension, the plan aims to protect the value of the pot by holding less volatile investments which should still deliver some growth.
If the Standard Lifetime plan doesn't meet your needs we have four other plans to choose from.
Managed by BlackRock. Suitable for those who want greater control over their investments. Choose from four risk levels designed to fit different stages of life and investment preferences.Standard plan
Managed by BlackRock. The Sustainable plan aims to make a positive impact on the world without sacrificing growth by investing in companies with high ESG (environmental, social & governance) ratings.Sustainable plan
Managed by HSBC. Approved by an independent Sharia committee, this plan invests 100% in shares that are fully compliant with Sharia law.Sharia plan
Managed by BlackRock. For savers who would prefer their pension is invested with an Environmental Social Governance (ESG) strategy, we also offer a Sustainable Lifetime plan.Lifetime plans
At Penfold, we think about four principles of investment when it comes to growing our members’ assets.
Your pension plans are managed by two of the best known fund managers on the planet.
Our Lifetime, Standard and Sustainable plans use a series of innovative new funds managed by BlackRock. These funds invest your money across different markets around the world, offering a range of risk and return profiles to match your goals. Dynamic allocation helps these funds outperform other investment strategies that typically stick to a more rigid investment formula (like a “60/40” stocks to bonds fund).
Our Sharia plan invests in the HSBC Islamic Global Equity Index Fund and is suitable for anyone looking for a socially-responsible, Sharia compliant way of saving for the future. The fund has an elected Sharia board monitoring the fund and investments to ensure it remains Sharia compliant. All major decisions must pass the board and they issue an annual certificate evaluating compliance with Sharia principles.
Please see our FAQ below for more information about how the fund managers manage your funds.
A portion of each pension fund is made up of stocks, which may include a small stake in companies like Apple, Microsoft or Google. Most pension providers don't let savers see which companies they're invested in - to us, that doesn’t seem right.
Our view is that everyone should know where your money is invested. That's why our Explore Your Pension feature gives savers complete visibility into their investments - including a breakdown of each individual company they have a stake in.
Explore Your Pension also provides a platform for voting on issues raised at company AGMs. There's also visibility of vote history, how the majority of Penfold savers voted, and vote results. Even better, it's completely anonymous.
We hate hidden charges. That’s why we have one fee that covers absolutely everything within our service.
Cut business and employees National Insurance bills with free salary sacrifice consultation and implementation.
Combine pensions into one account to see total pension savings and get a clear view of projected retirement lifestyle.
Have peace of mind that pension savings managed by Penfold will be looked after, no matter what the future holds.
BlackRock and HSBC’s website has more information about the funds invested in each of our plans:
We’ve made it easy, and free, to change your pension plan or adjust the risk level in just a few taps from the Penfold dashboard.
We hate hidden fees and you probably do too. We'll only charge you one fair, transparent annual fee for administering your pension that covers absolutely everything, including the BlackRock/HSBC fund management fee, within Penfold’s pension service.
With the Lifetime, Sustainable Lifetime, Standard and Sustainable plans you'll pay an annual fee of 0.75%. 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 to 0.4% on the portion of your savings over this amount.
With the Sharia plan you'll pay an annual fee of 0.88%. 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 to 0.53% on the portion of your savings over this amount.
Find out more about our pension plan fees.
As an under-18 year old who has been enrolled into our workplace pension you'll have the same full-featured access to Penfold as anyone else with one difference. If you're under-18 you are unable to make changes to the default plan you have been invested in and your pension must remain invested in this plan until you reach the age of 18.
Flexibility is important to us here at Penfold, including the ability to select a plan from our carefully selected range. You will still be able to view all of our plan options and as soon as you reach the age of 18 you will have the option to switch your plan to any that we offer.
At Penfold we don’t hold or manage your money ourselves. Anything you pay or transfer into your Penfold pension is initially deposited into a secure account held by a highly regulated custodian bank. Your money is usually held here for one business day before being used to buy into your investment plan, managed by BlackRock or HSBC, two of the world’s largest money managers.
As with any investment, this involves risk. The value of your pension can go up as well as down, and you could get back less than you put in. However, greater risk can lead to greater returns. If you have a long time before retirement, investing over the long-term can help ease any short-term losses.
All of your pension savings are kept separate from Penfold and belong entirely to you - your money can’t be touched by us or any of our partners. In the unlikely event that something negative happened to Penfold your pension would be transferred to another provider, ready for your retirement.
Find out more about how we keep your pension safe
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