If your pension contribution has been deducted from your most recent payslip, but you can't see the funds in your Penfold pot yet, don't panic!
When processing workplace pension contributions, we work with your employer to allocate your payment within 21 days of receiving the relevant information from your employer.
The exact time of when your payment is allocated can therefore vary as it depends on when your employer provides us with the necessary details.
Usually, your workplace contributions are paid into your Penfold account by the end of the following month from your payday. These contributions are labeled with the relevant pay month. For example, if you were paid on the 30th of September, we will aim to have your pension contribution processed by the end of October.
This is because it takes a few weeks to receive the pension information from your payroll team, process the contributions on your Penfold account, and then have that money allocated into your pot.
You will receive an email confirmation from us once the money has been allocated into your pot. 😊️
If it's been longer than this and you still don't see your contributions in your pot, please let us know by sending an email to hello@getpenfold.com. We’d be happy to look into it for you.