How we protect your savings
Our pension is based on giving you peace of mind. Your pension savings will be looked after, no matter what the future holds.
How your pension savings are held
Your pension savings are held by Penfold Trustees Limited on your behalf, separately from Penfold’s own money.
When you pay into or transfer money to your Penfold pension, it’s initially held by the Trustee with our custodian bank, NatWest. It’s typically held in cash for one business day before being invested in your chosen pension plan.
Your pension assets are kept separate from Penfold’s own funds. This means that if Penfold were to go out of business, your pension savings couldn’t be used to pay off our creditors.
How your money is protected
Penfold is also part of the Financial Services Compensation Scheme (FSCS).
In the unlikely event that something were to happen to Penfold or our partners (BlackRock, HSBC and Lloyds bank), your pension is safeguarded.
If you’re invested in the Penfold Plan, your savings are 100% FSCS protected. For our other plans, the FSCS covers up to £85,000 per eligible person and claim.
In addition, pension accounts would be transferred to another provider for no charge.
We take data privacy seriously
We respect your privacy and protect your information.
To safeguard your data, we use the most up-to-date security technology and maintain strict internal practices for all of our processes.
We strictly comply with General Data Protection Regulation (GDPR) guidelines.
We'll never share your information with anyone else without asking you first.
Penfold is a registered pension administrator, authorised and regulated by the Financial Conduct Authority (FCA).
Please note, when we talk about the security of your account we don’t mean that the value of it won’t change. The value of the investment funds your account invests in changes every day. The value goes up and down, for example, as stock markets move. So the value of your pension account may go up and down. This is investment risk, a normal part of investing. It is not an exceptional event.
