Fund options

Hand-picked, diversified pension plans that help grow wealth

Our pension plans invest in a series of innovative funds from 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

The plan we default-select for workplace employees. The Standard lifetime plan automatically adjusts its asset allocation across three stages as your employees reach retirement age.

Standard lifetime plan

Stage 1

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.

Stage 2

Once an employee reaches the age of 60, the plan starts to shift their funds from shares to more stable investments like bonds.

Stage 3

When an employee 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 the needs of your employees,
they can choose one of our other plans.


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


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

Sustainable lifetime

For employees who would prefer their pension is invested with an Environmental Social Governance (ESG) strategy, we also offer a Sustainable Lifetime plan.

Sustainable lifetime plan

Our investment principles

At Penfold, we think about four principles of investment when it comes to growing our members’ assets.

  1. Passive investments. Our plans use funds that provide exposure across whole markets as opposed to actively managed funds which involve humans picking individual investments. These passive style strategies have been proven to generally outperform active strategies over the long term.
  2. Low cost. We believe in low cost investments because fees eat into an employee’s pot as they accumulate over many years. Our portfolios invest across a wide range of low cost investments called Exchange-traded funds (ETFs) to keep the cost as low as possible for our customers.
  3. Diversification. Diversification sounds complex, but it simply means not having all your eggs in one basket. Our plans hold a wide range of investment types across different regions and asset classes to reduce the risk that multiple markets could fall at the same time. This helps to smooth out volatility from returns. Our plans invest across equities, bonds, commodities, and other alternative assets
  4. Active risk management. To manage risk, our core funds use technology to respond to what’s happening in the markets and the world as a whole. They do this by actively changing the investment allocation across different asset classes depending on the level of volatility in the market, providing an added layer of protection compared to more rigid investment portfolios.
A photo of a man smiling looking at a laptop and excerpts of the Penfold pension app sustainable investment fund screens

Backed by the biggest


Our Lifetime, Standard and Sustainable plans use a series of innovative new funds from 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.

A photo of a woman smiling and the BlackRock and HSBC logos

Have your say

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.

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More benefits of our pension

Charges & fees

We hate hidden charges. That’s why we have one fee that covers absolutely everything within our service.

Find out about our fees

Salary sacrifice

Cut business and employees National Insurance bills with free salary sacrifice consultation and implementation.

Learn about salary sacrifice

Single savings view

Combine pensions into one account to see total pension savings and get a clear view of projected retirement lifestyle.

Discover the easy way to combine


Have peace of mind that pension savings managed by Penfold will be looked after, no matter what the future holds.

See how we protect savings

Frequently asked questions about our funds

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

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