Pension security
Our pension is based on giving you peace of mind. Your savings will be looked after, no matter what the future holds.
How we protect your pension
To help protect your pension we don't hold or manage your money ourselves.
Anything you pay or transfer into your pension is deposited into a secure account held by a highly regulated custodian bank. Deposits are usually held in cash for one business day and then used to buy into your selected investment plan - managed by BlackRock or HSBC, two of the world's largest money managers.
All of your pension savings are kept separate from Penfold and belong entirely to you - your money can't be touched by us or any of our partners.
How we're regulated
Penfold is a registered pension administrator, authorised and regulated by the Financial Conduct Authority (FCA), number 826097.
- That means by law we have to abide by all the rules set out by the FCA that help keep your pension secure.
- In the unlikely event that something happens to Penfold, your pension would be transferred to another provider for no charge - ready for your retirement.
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.
How your pension is invested
With Penfold, the money you pay into your pension is invested into a pension fund.
Your savings are used to buy a mixture of shares and bonds that will hopefully help your pot grow over time.
As with any investment, this involves risk. The value of your pension can go up as well as down, and you could get back less than you put in.
However, greater risk can lead to greater returns. If you have a long time before retirement, investing over the long-term can help ease any short-term losses.
How we protect your privacy
As a digital pension provider, we understand that you want to know how we keep your personal information safe.
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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