Who is Penfold for?

Find out whether a Penfold pension is right for you.

Ellie Lister avatar
Written by Ellie Lister
Updated over a week ago

Is it for everyone?

Penfold is the modern pension for everybody. We have a diverse set of thousands of customers: self-employed people, employees, side-hustlers - everyone.

Our customers - both employed and self-employed - use Penfold as their central pension to not only pay into on top of their workplace pension, but also combine their old pensions over the years. As customers hop from job to job, they transfer their pots into Penfold, keeping it as their main source of pension truth - rather than having lots of pension pots scattered around!

This includes thousands of our self-employed customers who, if they become employed again, keep their Penfold pension open to transfer their new workplace pension into if and when they job-hop.

Penfold is built for freelancers, contractors and self-employed people. We want to make it as easy for the growing number of people who choose to work for themselves to save for the future, as it is for traditional employees.

Can small business owners use it too? 

Yes! When setting up your Penfold account, you can do this on behalf of your company by entering your company’s bank details, rather than your own personal details, and add the company number. Contributions into your pension will come from the company’s account instead of your own, and you will be able to save on your corporate tax.

What if I’ve got other pension pots? 

You can have a Penfold pension and still keep these old pension pots, or you can ask us to combine them into one place. We can do the hard work for you by helping you find and combine your old pension pots for you.

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