Penfold review
Updated October 12, 2026 · SumCue Editorial Team
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Our verdict
For employers seeking a simple workplace pension with payroll friendly administration, Penfold offers workplace auto-enrolment pensions built around staff wellbeing and time saving management. It also serves accountants, advisers and employees who want a clear pension that moves between roles.
Key facts
- Best for
- Employers wanting simple auto-enrolment pensions
- Account fee
- £0↗
- Deposit and withdrawal fees
- No fees for transfers or contributions↗
- Legal entity
- Penfold Savings Limited↗
- Official website
- getpenfold.com
Facts checked September 26, 2026, 2 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- Workplace auto-enrolment pensions designed to support staff morale and wellbeing
- Single lifelong pot that staff keep when moving between roles
- Old pensions can be brought together in one place
- Dedicated help for employers, accountants, advisers and employees
Cons
- Focused only on pensions, with no wider everyday money products
- Workplace design means less relevance for people saving outside employment
Who it suits
- Small businesses running auto-enrolment pensions
- Employees wanting one portable pension pot
- Accountants managing pensions for client teams
Who should look elsewhere
- People seeking investments beyond workplace pensions
How Penfold compares
Frequently asked questions
What does Penfold offer employers?+
Penfold provides workplace auto-enrolment pensions for businesses, with support for setup and ongoing administration. The offer aims to boost staff morale and financial wellbeing while reducing time spent on pension tasks. Expert help is included for employers managing their teams.
Can employees keep a Penfold pension when changing jobs?+
Employees receive a pension for life that continues from one role to the next. The pot stays with the individual rather than ending with employment. A clear design helps staff follow progress and understand their retirement saving.
Can old pensions be moved to Penfold?+
Old pensions can be transferred into a single Penfold pot through a simple process. Consolidation helps employees view retirement saving in one place. The approach reduces the need to manage several separate pension arrangements.
Does Penfold work with accountants and advisers?+
Penfold supports accountants and advisers who manage pensions for client businesses. The service offers easy administration with less time spent on setup and management. Responsive expert support helps resolve queries and gives client teams greater confidence.
Which company operates Penfold?+
Penfold is operated by Penfold Savings Limited. (Source, checked September 26, 2026)
Sources
- getpenfold.com/documents/Penfold_Charges_Guide_v1.3.pdf checked September 26, 2026
Backs: Legal entity
“PENFOLD SAVINGS LIMITED”
- help.getpenfold.com/en/articles/3535075-what-fees-do-you-... checked September 26, 2026
Backs: Account fee, Deposit and withdrawal fees
“We don't charge fees for: transferring your pension to or from Penfold”
Compiled from 2 source pages, checked October 13, 2026. We did not open an account.
Not confirmed yet: Minimum deposit, Stock trade fee, Inactivity fee, Markets, Regulators, Investor protection, Retail accounts that lose money.