Yes. Penfold’s personal pension is a Self-Invested Personal Pension, commonly known as a SIPP. It lets you save into a pension yourself, transfer eligible existing pensions into your account and choose how your pension is invested from Penfold’s available investment options.

What is a personal pension?

A personal pension is a pension you arrange yourself rather than one set up for you by an employer. You can contribute money to it yourself and your savings are invested with the aim of growing over the long term.

What’s the difference between a SIPP and a personal pension?

A SIPP is a type of personal pension. SIPPs are generally associated with giving savers more choice and control over how their pension is invested. The amount of investment choice varies considerably between providers.

Can I transfer old pensions into Penfold?

Yes, you can request to transfer eligible pensions from other providers into your Penfold pension. Bringing pensions together can make them easier to keep track of, but transferring isn’t right for everyone. You should check whether you could lose valuable benefits or guarantees, or pay higher charges, before transferring.

Do I have to contribute every month?

No. You can make regular contributions, one-off contributions or a combination of both. You can also open a Penfold pension by transferring an existing pension without making a new contribution.

How does pension tax relief work?

For eligible personal contributions, Penfold uses relief at source. That means when you make a contribution, we’ll usually claim basic-rate tax relief from HMRC and add it to your pension. For example, an £80 contribution would usually become £100 in your pension once £20 of basic-rate tax relief has been added. Depending on your circumstances and tax position, you may be able to claim additional tax relief separately.

Can my limited company pay into my pension?

Yes. If you’re a company director, your limited company can make employer pension contributions directly into your Penfold pension. Different tax rules apply to employer and personal contributions, so you may want to speak to an accountant or tax adviser about your circumstances.

Can I open a Penfold pension if I’m self-employed?

Yes. You don’t need an employer to open a Penfold pension. You can make personal contributions yourself and adjust how much you save as your circumstances change.

What can I invest my Penfold pension in?

Penfold offers a selected range of investment options designed for different needs, preferences and stages of retirement planning. Our default option, Penfold Lifetime, automatically adjusts its investment approach as you move closer to retirement.

A hand holds a smartphone displaying a financial app for retirement savings, with a smiling man looking at a phone in the background.

Personal pension (SIPP)

Take control of your pension. Build your future in one place.

Bring your old pensions together, contribute whenever it suits you and see what your savings could mean for retirement – all with one simple, modern pension.

Open a pension Transfer a pension

Your pension pot value can go up or down, but staying invested can help it grow

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One pension to build your future

Whether you’re starting from scratch or already have pensions scattered around, Penfold gives you one place to take control of your retirement savings.

Combine old pensions

Bring pensions from previous jobs and providers together.

Save when it suits you

Make regular contributions or add money whenever you want.

Get a tax relief boost

We claim your 25% bonus on eligible personal contributions.

Plan for your future

See what you’re building and what it could mean for your future.

A photo of a woman looking at a laptop and excerpts of the Penfold pension app showing transfer pension screens

Bring your old pensions together

Fewer pensions. A clearer picture.

Pensions have a habit of piling up as you move through life and change jobs. With Penfold, you can track down old pensions and request to bring them together in one place.

That means fewer accounts and providers to keep track of – and one clearer view of what you’re building for retirement.

You don’t need to start contributing to open a Penfold pension. You can get started simply by transferring an existing pension.

Transfer an old pension

It’s important to compare providers’ fees and any guaranteed benefits when deciding on whether to transfer, and be sure that the investments available are suitable for you. If your employer is paying into your pension currently, transferring that pot may mean you lose out on their contribution.

A smiling woman looks at her phone, which displays a notification for a total of £400 in contributions from her and her employer.

Save your way

Your pension can work around you.

You decide how and when you want to save. Set up regular contributions to keep building your pension automatically, add extra money whenever it suits you, or do both.

And eligible personal contributions receive pension tax relief:

You pay in: £80
Tax relief adds: £20
Into your pension: £100

If you’re eligible for additional tax relief, you may be able to claim this separately from HMRC.

Tax treatment depends on your individual circumstances and may change in the future.

A photo of a man looking at a laptop and an excerpt of the Penfold pension app showing the My forecast retirement screen

Know where you stand

See more than just a pension balance.

Knowing what you’ve saved is useful. Understanding what it could mean for your retirement is much more useful.

Penfold brings your pensions and retirement planning tools together so you can see what you’re building and explore what different choices could mean for your future.

See your pension value, contributions and projected retirement income. Set a retirement goal. And explore how changing what you save could affect your future.

See how Penfold helps you plan

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Invest your pension your way

A carefully selected range of funds for different goals and preferences.

Your pension could be invested for decades, so where your money goes matters.

Choose from a carefully selected range of professionally managed funds – including options for different attitudes to risk, sustainable investing and Sharia-compliant investing.

Or keep things simple with Penfold Lifetime, our default investment approach built with investment experts at BlackRock, which automatically adapts as you move closer to retirement.

Explore all investment options

With investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice and past performance is not a reliable indicator of future performance.

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Pension guidance and support

You don’t have to figure it all out yourself.

Pensions can get complicated. Penfold combines simple digital tools with support from real people.

Use personalised guidance to understand where you stand, explore different retirement scenarios and see actions you could consider.

And if you need help with Penfold, your contributions or bringing an old pension across, our Customer Support team is here when you need them.

Explore pension guidance

Work for yourself? Your pension can too.

However you earn, Penfold gives you a flexible way to build your retirement savings.

Self-employed?

When there’s no employer automatically paying into a pension for you, staying on top of retirement saving is down to you.

With Penfold, you can contribute when it suits you – set up regular payments, make one-off contributions when business is good, or combine the two. We’ll automatically claim basic-rate tax relief on eligible personal contributions too.

Run your own limited company?

Your limited company can make employer contributions directly into your Penfold pension.

Eligible employer pension contributions can usually be treated as a business expense, reducing your company’s taxable profits and potentially lowering its Corporation Tax bill – while putting money aside for your retirement.

Hand holding a smartphone displaying a pension management app with a balance of £12,392.17.

Your pension, in your pocket

Everything you need to understand and manage your pension, in one place.

See what you’ve saved
Track your pension value, contributions and investment performance.
Bring pensions together
Find old pensions and request transfers into Penfold.
Plan ahead
Explore your retirement forecast, goals and personalised guidance.
Save flexibly
Manage regular contributions or add money when it suits you.

What Penfold customers say

I really do recommend using Penfold for their outstanding customer service, easy to use app and straightforward, no nonsense communication.
Steve
Penfold customer
Wow I can’t believe my pension was transferred over so quickly. It’s probably less than two weeks and was effortless.
Eric
Penfold customer
I've had experience with Penfold both from the employee and the employer side and have been impressed with both.
Ceilidh
Penfold customer
A really great way to save for your pension and withdraw if you need to. The staff are exceedingly friendly and highly professional.
Gary
Penfold customer
Excellent app, everything you need to keep your pension up to date, from transferring your old pensions to contributions, withdrawals, monthly payments, tax bonuses.
David
Penfold customer
They are always quick to respond and helpful. I also attended their webinars which were full of good quality information with a great presenter.
Kerry
Penfold customer
I really can’t imagine losing the visibility and slick experience Penfold's app provides and so will be sticking with Penfold throughout my career.
James Bardwell
Executive
Penfold have the tools and service to make you think and feel confident about your future, and help you make the right decisions along the way.
Chris
Penfold customer
Low fees and healthy growth of my pension together with a simple app that enables me to keep an eye on things. Whats not to like!
Peter
Penfold customer
Penfold opened my eyes to what value a pension can actually bring you. I now have full control with Penfold as my source of truth for all pensions!
Laura Barr
Manager
I really do recommend using Penfold for their outstanding customer service, easy to use app and straightforward, no nonsense communication.
Steve
Penfold customer
Wow I can’t believe my pension was transferred over so quickly. It’s probably less than two weeks and was effortless.
Eric
Penfold customer
I've had experience with Penfold both from the employee and the employer side and have been impressed with both.
Ceilidh
Penfold customer
A really great way to save for your pension and withdraw if you need to. The staff are exceedingly friendly and highly professional.
Gary
Penfold customer
Excellent app, everything you need to keep your pension up to date, from transferring your old pensions to contributions, withdrawals, monthly payments, tax bonuses.
David
Penfold customer
They are always quick to respond and helpful. I also attended their webinars which were full of good quality information with a great presenter.
Kerry
Penfold customer
I really can’t imagine losing the visibility and slick experience Penfold's app provides and so will be sticking with Penfold throughout my career.
James Bardwell
Executive
Penfold have the tools and service to make you think and feel confident about your future, and help you make the right decisions along the way.
Chris
Penfold customer
Low fees and healthy growth of my pension together with a simple app that enables me to keep an eye on things. Whats not to like!
Peter
Penfold customer
Penfold opened my eyes to what value a pension can actually bring you. I now have full control with Penfold as my source of truth for all pensions!
Laura Barr
Manager

I really do recommend using Penfold for their outstanding customer service, easy to use app and straightforward, no nonsense communication.
Steve
Penfold customer
Wow I can’t believe my pension was transferred over so quickly. It’s probably less than two weeks and was effortless.
Eric
Penfold customer
I've had experience with Penfold both from the employee and the employer side and have been impressed with both.
Ceilidh
Penfold customer
A really great way to save for your pension and withdraw if you need to. The staff are exceedingly friendly and highly professional.
Gary
Penfold customer
Excellent app, everything you need to keep your pension up to date, from transferring your old pensions to contributions, withdrawals, monthly payments, tax bonuses.
David
Penfold customer
They are always quick to respond and helpful. I also attended their webinars which were full of good quality information with a great presenter.
Kerry
Penfold customer
I really can’t imagine losing the visibility and slick experience Penfold's app provides and so will be sticking with Penfold throughout my career.
James Bardwell
Executive
Penfold have the tools and service to make you think and feel confident about your future, and help you make the right decisions along the way.
Chris
Penfold customer
Low fees and healthy growth of my pension together with a simple app that enables me to keep an eye on things. Whats not to like!
Peter
Penfold customer
Penfold opened my eyes to what value a pension can actually bring you. I now have full control with Penfold as my source of truth for all pensions!
Laura Barr
Manager
I really do recommend using Penfold for their outstanding customer service, easy to use app and straightforward, no nonsense communication.
Steve
Penfold customer
Wow I can’t believe my pension was transferred over so quickly. It’s probably less than two weeks and was effortless.
Eric
Penfold customer
I've had experience with Penfold both from the employee and the employer side and have been impressed with both.
Ceilidh
Penfold customer
A really great way to save for your pension and withdraw if you need to. The staff are exceedingly friendly and highly professional.
Gary
Penfold customer
Excellent app, everything you need to keep your pension up to date, from transferring your old pensions to contributions, withdrawals, monthly payments, tax bonuses.
David
Penfold customer
They are always quick to respond and helpful. I also attended their webinars which were full of good quality information with a great presenter.
Kerry
Penfold customer
I really can’t imagine losing the visibility and slick experience Penfold's app provides and so will be sticking with Penfold throughout my career.
James Bardwell
Executive
Penfold have the tools and service to make you think and feel confident about your future, and help you make the right decisions along the way.
Chris
Penfold customer
Low fees and healthy growth of my pension together with a simple app that enables me to keep an eye on things. Whats not to like!
Peter
Penfold customer
Penfold opened my eyes to what value a pension can actually bring you. I now have full control with Penfold as my source of truth for all pensions!
Laura Barr
Manager

Why choose Penfold?

Bring pensions together
Keep more of your retirement savings in one place.
Save flexibly
Regular payments, one-offs or both.
Get pension tax relief
Get a 25% bonus on eligible personal contributions.
Choose how you invest
A selected range of professionally managed funds.
Plan your retirement
Forecasts, goals and personalised guidance.
Get real support
Help from people when you need it.