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FAQs
Our customers' most frequently asked questions
+2
56 articles in this collection
Written by
Ellie Lister,
Rachel Norris,
Josh Roukin
and 2 others
General FAQs
The Big Pensions FAQ
Here's all the typical pension questions!
Written by
Ellie Lister
Updated over a week ago
How old is Penfold?
Discover how long Penfold has been in business.
Written by
Ellie Lister
Updated over a week ago
How does Penfold compare to other providers?
Discover what makes us different to other pension providers
Written by
Ellie Lister
Updated over a week ago
What is the Lifetime Plan?
What is the Lifetime plan and what does it mean for the way your pension will be invested
Written by
Rachel Norris
Updated over a week ago
How is your pension kept safe?
Discover how your Penfold pension is kept safe, including how Penfold is regulated.
Written by
Rachel Norris
Updated over a week ago
I'm not self-employed, is Penfold for me?
Is Penfold for employed people as well as self-employed and company directors?
Written by
Ellie Lister
Updated over a week ago
I live outside the UK, can I have a Penfold pension?
Can I work and retire abroad and have a Penfold pension?
Written by
Ellie Lister
Updated over a week ago
Can I have multiple pensions?
Can I have a private pension, and workplace pensions?
Written by
Ellie Lister
Updated over a week ago
What happens if you went out of business?
What would happen to my money if Penfold no longer existed?
Written by
Ellie Lister
Updated over a week ago
What fees do you charge?
What fees do Penfold have?
Written by
Ellie Lister
Updated over a week ago
What happens if I pass away before 55?
Who receives my pension if I don't access it myself?
Written by
Ellie Lister
Updated over a week ago
How long does it take for a fund switch to settle?
Learn how long it takes for you to change your pension risk level.
Written by
Ellie Lister
Updated over a week ago
Can I nominate someone to receive my pension if I die?
How do I nominiate the beneficiary recipient of my Penfold pension?
Written by
Ellie Lister
Updated over a week ago
When will I receive my promotional bonus?
I received a special sign up bonus, when will I receive this?
Written by
Ellie Lister
Updated over a week ago
When will I receive my referral money?
Discover how long it takes to receive your Penfold referral bonus.
Written by
Ellie Lister
Updated over a week ago
✨ New feature: Your Forecast ✨
How is my forecast calculated?
Learn how our pension forecast calculator works to predict your retirement income. Discover the key factors impacting your pension today.
Written by
Lydia Bennett
Updated over a week ago
What assumptions is my forecast based on?
Learn more about the underlying assumptions our pension forecast calculator uses to predict your retirement income.
Written by
Lydia Bennett
Updated over a week ago
What are the lifestyle categories based on?
Learn how our pension lifestyle calculator works. Discover the criteria we use on for an overall accurate prediction breakdown.
Written by
Lydia Bennett
Updated over a week ago
Can I include other pensions to get a complete understanding of my retirement income?
Learn how our forecasting pension calculator can include pensions outside Penfold to provide a complete picture of your retirement income.
Written by
Lydia Bennett
Updated over a week ago
Why is my forecast value so low?
If your pension forecast value estimate is low, there could be many reasons why. Discover Penfold's top three in our FAQ guide.
Written by
Lydia Bennett
Updated over a week ago
What is the difference between ‘Your forecast’ tool and the ‘Calculator’ tool?
Our pension forecasting tool reveals your future retirement income. Here's the difference between your forecast and our pension calculator.
Written by
Lydia Bennett
Updated over a week ago
How do I...
How do I calculate my self-assessment tax return?
Information on your pension contributions, your tax relief and how to calculate your self-assessment tax return for the self-employed
Written by
Ellie Lister
Updated over a week ago
How can I locate my old pension?
Top 4 tips on how to find the details of your old workplace pension to transfer over to Penfold
Written by
Ellie Lister
Updated over a week ago
How do I get a statement of all my contributions?
For my self assessment tax return, how can I find my total contributions?
Written by
Ellie Lister
Updated over a week ago
How do I change my bank details?
How can I change my bank details, and why are the boxes 'greyed out'?
Written by
Rachel Norris
Updated over a week ago
Why can't I change my payment details?
Why are the boxes 'greyed out' on the payments page?
Written by
Ellie Lister
Updated over a week ago
Where can I find all of my documents?
Where can I find my payment direct debit confirmation, key features, my policy reference number and all my pension information?
Written by
Ellie Lister
Updated over a week ago
Why isn't my payment showing in my dashboard yet?
My payment has come out of my bank account but it isn't showing in my Penfold account yet.
Written by
Ellie Lister
Updated over a week ago
Investing
Can I have a pension and other investments like an ISA?
Does a Penfold pension stop me from opening an ISA?
Written by
Ellie Lister
Updated over a week ago
How can I change my investment type?
How and when can I change my risk level?
Written by
Ellie Lister
Updated over a week ago
Where are my contributions invested?
Can I choose where I invest my pension, in a specific fund?
Written by
Ellie Lister
Updated over a week ago
What risk level should I choose to invest in?
Which investment plan should I chose?
Written by
Ellie Lister
Updated over a week ago
Transferring my pension
Are there any transfer in fees?
Do you charge to transfer over pensions from another provider?
Written by
Ellie Lister
Updated over a week ago
How long does a transfer take?
How long does it usually take for a transfer from another provider to show in my Penfold account?
Written by
Ellie Lister
Updated over a week ago
Do you have any transfer out or exit fees?
Are there any costs for leaving Penfold, or transferring over to another provider?
Written by
Ellie Lister
Updated over a week ago
Paying into my pension
What is Seccl?
Who is 'Seccl Custody Ltd', this showed as the reference on my bank statement?
Written by
Ellie Lister
Updated over a week ago
Shall I pay in through personal or business contributions?
How is it different with tax, paying in through my business or my personal bank account?
Written by
Ellie Lister
Updated over a week ago
Can my employer pay into my Penfold pension?
Can Penfold allow umbrella company payments from my employer?
Written by
Rachel Norris
Updated over a week ago
How can I pause my payments?
Where on the dashboard can I pause my payments?
Written by
Ellie Lister
Updated over a week ago
Can I pay in through my limited company?
As a company director, can I pay into my pension through my business?
Written by
Ellie Lister
Updated over a week ago
Why hasn't my first payment come out yet?
How long does it take for my first payment to go into my Penfold account?
Written by
Ellie Lister
Updated over a week ago
Is there a minimum amount I can pay into my pension?
Find out the minimum you need to put into your pension every month.
Written by
Ellie Lister
Updated over a week ago
Is there a maximum I can pay into my pension?
How much can I contribute and receive the government's tax top ups? Will I get a tax charge if I exceed this maximum?
Written by
Ellie Lister
Updated over a week ago
Can I reduce my payment?
How can I increase/ decrease my monthly contribution?
Written by
Rachel Norris
Updated over a week ago
Withdrawing my pension
What are my options to withdraw from my pension?
How can I start to access my pension?
Written by
Josh Roukin
Updated over a week ago
Do I pay tax when I withdraw my Penfold pension?
Find out how pension taxes work and how much you'll need to pay.
Written by
Ellie Lister
Updated over a week ago
Can I withdraw money from my pension whenever I want?
When can I access my pension and begin to withdraw from it?
Written by
Ellie Lister
Updated over a week ago
Government tax relief
How much tax top-up will I get from the government?
How much tax relief will I get from HMRC?
Written by
Ellie Lister
Updated over a week ago
How do I get the government's tax-top ups?
Do I need to claim my tax top ups?
Written by
Ellie Lister
Updated over a week ago
How long does it take to receive tax top ups?
When will I receive the government's tax relief?
Written by
Ellie Lister
Updated over a week ago
Workplace pension FAQs
How do I change my employee contribution percentage?
Here's how to adjust how much your paying into your Penfold pension.
Written by
Rachel Norris
Updated over a week ago
I amended my employee contributions - when will this be actioned?
If you have recently amended your pension contribution with us, find out when this will be changed in our FAQ section today.
Written by
Lily Upot
Updated over a week ago
What happens if I opt out of my workplace pension scheme?
Here's what happens if you decide not to take part in your company pension scheme.
Written by
Rachel Norris
Updated over a week ago
Why does my account show £0.00?
Here's why your new Penfold pension is currently empty.
Written by
Rachel Norris
Updated over a week ago
When are my workplace contributions paid into my Penfold pension?
Here's how long it takes for you company pension contributions to arrive in your pension.
Written by
Rachel Norris
Updated over a week ago
Why do I only have “employer contributions”?
Here's why you can't see any personal contributions into your Penfold pension.
Written by
Rachel Norris
Updated over a week ago