Protection and security

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.

Managed by BlackRock and HSBC

Pension savings are invested and managed by BlackRock or HSBC,  two of the world's largest money managers, rather than ourselves.

Initially, payments and transfers into Penfold are deposited into a secure account held by a highly regulated custodian bank.

Deposits are usually held in cash for one business day before being used to buy into the relevant BlackRock or HSBC investment plan.

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Highly regulated

Penfold is a registered pension administrator, authorised and regulated by the Financial Conduct Authority (FCA).

By law we have to abide by all the rules set out by the FCA that help keep pensions secure. In the unlikely event that something happens to Penfold, pension accounts would be transferred to another provider for no charge.

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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), the value of your pension is protected up to a maximum of £85,000 per eligible person and claim.

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We take data privacy seriously

At Penfold, service is our no.1 priority. This includes respecting your privacy and protecting 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.

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More benefits of our pension

Fund options

Hand-picked and diversified pension plans, backed by BlackRock and HSBC funds, that help grow wealth.

Discover our fund options

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

Single savings view

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

See the easy way to combine

Salary sacrifice

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

Learn about salary sacrifice

The regulations in place, as well as the governance measures undertaken by Penfold help to protect your pension pot. These measures aim to reduce the risk to your account. However, we cannot guarantee the security of your account, and these measures don’t fully protect your pot against an exceptional event.

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.

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