Pensions & Investing
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.
How Your Pension Is Kept Safe
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 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.
How Penfold Is Regulated
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. Read more about Financial Conduct Authority.
How Your Pension Is Protected
Penfold is also part of the Financial Services Compensation Scheme (FSCS).
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.
Our custodian partner holds your pension savings. They must, by law under the Client Money and Asset (CASS) rules, keep your savings separate from any money that belongs to them. This means that, in the very unlikely event, that our custodian were to go bust, your money couldn't be used to cover any debts or liabilities that they owed their creditors.
Protecting Your Privacy
As a digital pension provider, we understand that many people want to know how their personal information is kept safe.
To safeguard your data, we use the latest security technology and maintain strict internal practices every step of the way.
We also comply with General Data Protection Regulation (GDPR) guidelines. We'll never share your information with anyone else without asking you first.