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What fees do you charge?
What fees do you charge?
What fees do Penfold have?
Ellie Lister avatar
Written by Ellie Lister
Updated over a week ago

Penfold charges 0.75% (or 0.88% for the Sharia plan) of your total pot each year.

Let’s break this down:

The Lifetime, Standard and Sustainable plans 0.75% fee:

  • Includes BlackRock's 0.17% investment platform fee - which is directly paid to BlackRock for investing your money.

  • Also includes Penfold’s 0.58% administration fee - which is paid to Penfold and it’s partners for administering your pension.

  • If your pension pot size is larger than £100,000 the fee is reduced to 0.4%. This includes BlackRock's 0.17% investment platform fee and Penfold's 0.23% administration fee on the portion of your savings over this amount.

The Sharia plan 0.88% fee:

  • Includes HSBC’s 0.30% investment platform fee - which is directly paid to HSBC for investing your money.

  • Also includes Penfold’s 0.58% administration fee - which is paid to Penfold and it’s partners for administering your pension.

  • Even better If your pension pot size is larger than £100,000 the fee is reduced to 0.53%. This includes HSBC's 0.30% investment platform fee and Penfold's 0.23% administration fee on the portion of your savings over this amount.

  • The Sharia plan fee is inclusive of a 0.2% subsidy from Penfold, following the restructure of the underlying HSBC fund, which will expire on August 30th 2023. We are currently working on extending this or finding another fund at the same price, but the fees on this plan may increase. We will provide at least one month notice for any such change.

We have no other fees for exiting, transferring or receiving documents.

How we take your fee
A proportion of the annual fee is calculated each day based on the value of your pension pot each day. These are then added up over the course of each month, and the fee for that month will be taken the following month. This means that if you were to add up all of the monthly fees taken by us they would work out to be 0.75% (BlackRock) or 0.88% (HSBC Shariah) of the average amount in your pension pot over the year.

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