Penfold's tailor-made pension plan

We have four different Standard pension options, starting at the least risky Level 1 which has a higher proportion of your money invested in bonds, which is generally a more stable investment type. The plans increase in risk up to the highest risk level, Level 4 which contains a higher proportion of your money invested in stocks, which generally means more growth potential and ups & downs.

• Level 1: This plan sits on level 4 out of 7 on the risk & potential reward scale. 20% of the fund is invested in stocks, 75% is invested in bonds, and 5% is invested in other investment types. This may be preferable to those closer to retirement within the next 5 years because there is a lower chance of your pension significantly decreasing in value just before you retire.
• Level 2: This plan sits on level 4 out of 7 on the risk & potential reward scale. 43% of the fund is invested in stocks, 52% is invested in bonds, and 5% is invested in other investment types. This may be preferable to those midway from retiring (5-15 years) where there is more growth potential and risk.
• Level 3: This plan sits on level 4 out of 7 on the risk & potential reward scale. 61% of the fund is invested in stocks, 34% is invested in bonds, and 5% is invested in other investment types. This may be preferable to those who are longer away from retiring (over 10 years), where there is more time to make up any market ups and downs in their pension before they retire.
• Level 4: This plan sits on level 5 out of 7 on the risk & potential reward scale. 78% of the fund is invested in stocks, 17% is invested in bonds, and 5% is invested in other investment types. This may be preferable to those who are longer away from retiring (over 15 years), so any dramatic market drops can be overcome over years, allowing a more gradual upward trajectory.

Of course you can choose which risk option you are most comfortable with and can change it at any time. 

Once your Penfold pension has been setup, click 'Growth Profile' on your dashboard. You can there switch your pension investment option to our Sustainable or Shariah plans, or one of four of our Standard plans.

If you want to transfer existing pensions to Penfold, please submit your transfer request by logging to your Penfold account and clicking the add a pension button on your dashboard. All we need is the:

• Provider name
• Policy reference number
• Estimated pot amount

If you don't know these details, head here to find out how to get them! Or, get in touch with our transfers team on our online chat box.

Our platform is based on giving you pension peace of mind. We believe you should know your savings are being looked after, no matter what the future holds.

We at Penfold don’t hold or manage your money. Anything you pay into your pension with us first goes into a secure account held by a highly regulated custodian bank. It’s held here for usually just 1 business day before being used to buy into your investment plan, managed by some of the world’s largest money managers.

Here’s the important thing to remember: Your savings are your savings. All of your pension is kept separate from us and belongs entirely to you. This means if anything were to happen to Penfold, your money can’t be touched by us or any of our partners. Your pot will be transferred to another pension provider, ready for your retirement.

With Penfold, the money you pay into your pension is invested. Your savings are used to buy a mixture of shares (part ownership in a company) and bonds (a loan with a guaranteed fixed interest rate) 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.

Check out this guide to learn more about investing risk. 

Penfold is designed for maximum flexibility, so you can pause or stop your contributions at anytime, make one-off topups, or set up regular payments - whatever you like. There is no minimum deposit when you set up your pension, and you can pay nothing each month if you like. If you do make a contribution, the minimum amount we can process is £10.

We hate hidden fees and you probably do too. We'll only charge you one fair, transparent annual fee for managing your pension that covers absolutely everything within Penfold’s pension service. 

You'll pay an annual fee between 0.75% and 0.88%, depending on the plan you choose. We'll automatically deduct a portion of your annual fee from your pension in 12 monthly instalments.

If your pension pot size is larger than £100,000 the fee is reduced to either 0.4% or 0.53% on the portion of your savings over this amount.

To read more about our fees, head here.

Penfold is regulated by the Financial Conduct Authority (FCA), number 826097.

This means that by law, we have to abide by all the rules set out by the FCA. These guidelines help keep your pension secure. You can read more about the FCA and its regulations here.

Penfold is also a part of the Financial Services Compensation Scheme (FCSC).

In the very unlikely event that something were to happen to Penfold or our partners (BlackRock and Lloyds bank), the value of your pension is protected up to a maximum of £85,000 per individual.