The Penfold Plan is fully protected by the Financial Services Compensation Scheme (FSCS) – no matter how much you’ve saved. This means if the company managing your investments were ever to fail, your pension would be protected in full.
How is it 100% protected?
The Penfold Plan is structured as a long-term insurance contract, a type of fund designed to offer the highest level of FSCS protection. This means your pension would be covered up to 100% of its value, with no upper cap.
There are no changes to how your money is invested – it’s still managed by our partner BlackRock, one of the world’s largest and most trusted investment managers. The only difference is how the plan itself is structured, giving you extra peace of mind.
What does FSCS protection mean?
The FSCS is an independent organisation set up by the UK government to protect customers when authorised financial firms fail. It ensures you don’t lose your money if a firm can’t meet its obligations.
If that were ever to happen, the FSCS could step in and return the full value of your pension savings under this plan.
Want to learn more?
You can read more about FSCS protection on the FSCS website