Penfold is a digital pension provider focused on taking the stress out of investing and making your pension as straightforward as possible.
Boring Money Review of Penfold Pension
Holly Mackay's View
This pension was initially designed with the often neglected self-employed in mind and is a nice relatively easy way to get started in the baffling world of pensions. Probably best to leave the review to my cousin, a bathroom fitter, who has zero interest in pensions but used this after some nagging from yours truly and – to his surprise – actually liked the experience and has finally got the pensions monkey off his back!
Holly has accounts with all the providers on our website and independently reviews all of them.
Customer Reviews of Penfold Pension
We collect reviews and share feedback from real users to give you the best information about providers.
16 January 2023
Expensive compared to other providers, especially for a start-up that, unfortunately, often doesn't get things correct and is unavailable for a phone call.
Beth
Is Penfold Pension right for you?
Ease of use
Both the app and the website have a clear layout and are easy to navigate. The design feels modern and simple, which is a big plus when dealing with pensions. The FAQ section covers a wide variety of issues, with clear thought put into the responses, and there is the option of webchat and telephone support for more specific, niche queries.
Account set up is quick, taking only 5 minutes and can done via app or on the website. Penfold provide 3 options when it comes to topping up your account: direct debit, instant payment and bank transfers.
Mobile & Apps
Penfold have put a lot of effort into its app, which is sleek and provides a nice user experience. The activity tab is particularly useful, showing a clear breakdown of contributions, fees, transfers, and top-ups, as well as allowing you to filter by individual components. It is easy to view or change your investment plan and users can locate key documents without any issues.
Facts, Fees & Behind the Scenes at Penfold
Penfold don’t hide a lot behind a payment wall, choosing to give users access to most things before they are charged a fee. This includes a free sign up – you only pay once you’ve opened or transferred a pension.
Transferring a pension is extremely straightforward, with extra help provided when searching for lost pensions from an old workplace. You are kept informed of the transfer progress, without being inundated with all the information of what’s happening behind the scenes.
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