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Standard pension plan

Take complete control of your pension. Tailor your investments by choosing one of four levels of risk to fit your preferences and outlook.

Standard pension fund plan selection and where money is invested screens

Diversified, balanced, low cost

Our Standard plan has four different risk level options, supported by BlackRock’s MyMap range. Each level offers:

  • Broad diversification: Investments are spread across a wide range of investments and industries to reduce how susceptible your savings are to market volatility.
    Balanced risk: Advanced technology adapts and manages the way your savings are invested in response to market and wider world changes.
  • One simple all-in fee: You'll only pay one annual fee of 0.75% for savings under £100,000 and 0.4% for any amount over £100,000. Find out more about our fees.
A column chart showing Penfold's standard plan risk levels outperforming the equivalent Vanguard LifeStrategy funds

How we compare

Over the 38 months since the BlackRock MyMap range started to the end of June 2022, Vanguard LifeStrategy 80% delivered a return of 19.8%, our Standard plan Level 4 delivered 22.4%.

Vanguard, like BlackRock, is one of the world’s largest asset managers and highly experienced at building index tracking funds.

Vanguard’s LifeStrategy 80% Equity fund is invested with a similar allocation to the Standard Level 4 fund. It has around 80% of investments held in shares in publicly listed companies and is broadly diversified, i.e. invested across many markets on different continents.

Risk level choices

Tailor your pension to fit your stage of life and investment preferences

Level 4

Highest growth potential
Highest risk

More than 15 years from retiring

Only objective is long term growth

Not worried by short term drops

Level 3

Medium to high growth potential
Medium to high growth risk

More than 10 years from retiring

Mostly looking for long term growth

OK with larger dips to get larger gains

Level 2

Low to medium growth potential
Low to medium risk

Around 5 to 10 years from retiring

Aiming for a little more growth

OK with moderate dips in value

Level 1

Lowest growth potential
Lowest risk

Retiring in the next 5 years

Low and stable growth

Most protection from dips in value

It's easy to adjust your risk level in a couple of taps, online or with our app.

Standard pension fund performance track record and risk level screens

In collaboration with BlackRock

We're proud to collaborate with the world's largest investment manager, BlackRock, to protect and grow our customers' pension savings with our Standard plan.

Our shared philosophy on the principles of passive investing, diversification and managed risk at a low cost led us to work with BlackRock to offer their MyMap investment options.

Investments are spread across a wide range of BlackRock’s iShares passive tracker funds using advanced technology to balance growth and risk. These funds correspond to a mix of stocks, bonds and alternative assets across the world.

Four pie charts showing the asset allocation of each of Penfold's Standard plan risk levels between equities, bonds and alternative investments

How volatility drives allocation

Volatility is a natural part of investing and to be expected over the long term. It’s a result of the risk in investment markets - the same risk that helps you grow your money.

For those a long way from retirement a certain level of volatility is not a problem, as there is a long time to recover from any drops. However, it can be damaging for those close to retirement who will be looking forward to a stable income.

This is why Standard plan Level 4 may be better for those in the earlier stages of saving, and Level 2 or Level 1 may be considered the most suitable for those customers about to retire, as it is designed to deliver steady returns with the lowest volatility.

Pension investments in various companies and AGM vote results

Unleash your pension power

A portion of your 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 you see which companies you're invested in - to us, that doesn’t seem right.

Our view is that you should know where your money is invested. That's why our Explore Your Pension feature gives you complete visibility into your investments - including a breakdown of each individual company you have a stake in.

Explore Your Pension also provides a platform for voting on issues raised at company AGMs. You can also see your vote history, how the majority of Penfold savers voted, and the vote result. Even better, it's completely anonymous.


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