How is my pension kept safe?

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 aim to 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 also lead to greater returns. If you have a long time before retirement, investing over the long term can help smooth out short-term market movements.

Check this guide to learn more about investment risk.

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.

Penfold is authorised and regulated by the Financial Conduct Authority (FCA), number 826097.

Penfold is also part of the Financial Services Compensation Scheme (FSCS).

Cash held within the pension scheme with UK-registered banks may be protected by the FSCS up to £120,000 per eligible claimant.

Investments held with investment managers such as BlackRock and HSBC may be protected by the FSCS up to £85,000 per eligible claimant.

If you are invested in our default plan, you may be protected up to 100% of your investment.

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 modern security technology and maintain strict internal practices at every step.

We also comply with UK data protection laws and GDPR requirements. We will never share your information with anyone else without your permission.