Your pension assets are held in trust and kept separate from Penfold's own company assets.
Penfold Savings Limited (PSL) operates the Penfold Pension, a UK-registered pension scheme. The trustee of the Penfold Pension is Penfold Trustee Limited, which is responsible for safeguarding members' pension assets. Money entering the scheme is briefly held as cash in the Trustee's Nominee bank account with NatWest. This money is kept separate from PSL's corporate funds and cannot be used to assist in the event of PSL going bust. When the money leaves the Nominee account to be invested, it is managed by established global investment managers, BlackRock or HSBC.
Here's the important thing to remember: your pension savings belong entirely to you. They are legally separate from Penfold’s own finances. This means that if anything were to happen to Penfold, your pension would remain protected and continue to be administered for the benefit of members.