- Penfold is rated very highly on Good Money Guide as a simple, private pension provider focused on making retirement saving easy and accessible.
- Experts highlight its app-based approach, low minimum contributions and suitability for freelancers and self-employed savers who want a straightforward personal pension.
- Customer reviews on Good Money Guide are generally favourable, with users praising ease of use and simple setup, though feedback is more limited than for larger pension providers.
Penfold Customer Reviews
Tell us what you think of this provider.
excellent
good customer service and monthly information
Amazing
Pension provision great
Simple
Keeps it all very simple and provides easy to understand information.
Innovative; informative.
Easy and accessible platform to keep an eye on your investment. Support for sole traders to build income for their future. Investment mechanisms and growth opportunities.
Simplicity
Having all the information easily accessible from its app. As a self employed person, it has made investing in a pension, when my income is erratic, simple
Self explanatory
Makes saving for your pension easy, with the smoothness of an app where you can forecast how your pension will grow. Change payments and payment dates with ease. It’s self explanatory app. As a self employed childminder it’s made me take control of my future without panicking and making the pension jargon seem so daunting.
Intuitive
Penfold gives incredibly clear insights to your pension, their app will show you exactly what you have and where it’s being invested. Very clear! The support team is also brilliant.
Great pensions
Super simple to use pension provider. Everything is really clear and they assist with all other requirements. Projections are nice for planning too.
Revolutionary
So user-friendly giving me much greater control & confidence in managing my pension arrangements
Innovative
Transforms how to manage and track pension contributions making it easy and informative to follow and understand, taking away the laborious task of working out what to do and how to amalgamate all pensions into one pot.
User oriented
This products great. It feels like it was designed for actual people to use.
Fantastic
Keeps me updated on my pension and offers me advice when needed
Innovative
I like how Penfold is challenging the state quo of traditional pension providers while at the same time focusing on educating it’s customers.
Great pension options
Pensions
Inspiring
Breaks down what is complicated for many in easy language, empoweing everday people to acheive a better outcome in one of their most important financial decisions
Usr-friendly
Love how easy and user friendly this is. Keeps difficult stuff really simple and easy to understand
Seamless
The Penfold platform offers a seamless transfer of pensions from other providers
Responsive
Succeeds and responds
SUPERB
Great communication and the app is super easy to navigate.
Simple investing
I like the fact I can add more or less to my pension if I need to, everything is very clear on the app from my forecast to making higher risk investments, I feel my money is safe with Penfold and I only wish I’d found them sooner
Penfold Pension Expert Review
In this review we:
- Give our ratings based on their nearest peers
- Tell you what we think of Penfold after testing them with real money
- Highlight the key costs, facts and figures of the Penfold accounts
Penfold Expert Review: Are they a good pension provider?
Provider: Penfold Pension
Verdict: Penfold is an online provider of pensions. A digital alternative to traditional pension companies, it enables users to quickly set up a pension, and manage it online or with its app. A relatively new player in the UK pensions space, Penfold was set up in May 2018, and became regulated by the Financial Conduct Authority (FCA) in May 2019. The company was founded by three technology experts who previously worked at Deloitte and Funding Circle an since then Penfold has grown significantly since then, now serving over 100,000 users.
Is Penfold a good pension?
Yes, Penfold, was voted “Best Pension” in the 2026 Good Money Guide Investing Awards and is one of the new breed of pension providers that combines tech with personal service. Via the app, you can start a pension in less than 10 minutes and also talk to an expert advisor on the phone if you need help.
How much does it cost? Penfold is a bit pricey under £100k, but above that is very competitive. The Penfold, Standard and Sustainable plans cost 0.75% up to £100k, then 0.4% on any amount over £100k.
There is also a Sharia plan which costs 0.88% for savings up to £100k, and 0.53% on any amount over £100k.
What is your pension invested in? Penfold uses Blackrock funds, which decrease in risk as you get older. So when you are young and have more time in the market, you can take on more risk, as your investments can weather the dips in the market. The closer you get to retirement, your pension will contain fewer stocks and more bonds that generate income. This means that when you actually need to withdraw your pension, it will be less likely to go down in value.
You can see in the screenshot below of the Penfold Plan what goes into your Penfold pension portfolio.
Is it easy to use? Yes, Penfold has great apps, and the website is clear. When we interviewed Christ Eastwood, the co-founder and CEO of Penfold, he told us that using technology is the key to “making pension saving easier”.
Customer Service: Penfold receives excellent customer reviews on Good Money Guide, many of which highlight great customer service.
Research & Analysis: If you are investing in this type of pension, you won’t be tinkering with it too much, so research and analysis are not that relevant. Having said that there are a lot of online resources that explain how pensions work and active social channels that aim to explain what is going on in the world of investing and pensions.
Pros
- Easy-to-use app and web interface
- Projected retirement income
- Ability to set savings goal
- Detailed insights into investments
Cons
- Relatively new company
- Slightly more expensive than robo-advisors
- Pricing (4)
- Market Access (4)
- Online Platform (4)
- Customer Service (5)
- Research & Analysis (3.5)
Overall
4.1Penfold Pension News
- Penfold Voted “Best Pension” 2026 – Penfold has been voted Best Pension 2026 at the Good Money Guide Investing Awards, after receiving outstanding feedback from customers who praised its simplicity, transparency and first-class service. In a market often criticised for complexity and opacity, Penfold has been recognised for doing something refreshingly different: making pensions understandable, flexible and built around real people. […]
- Chris Eastwood, Penfold CEO On Winning “Best Pension” 2026 – Chris Eastwood, the co-founder and CEO of Penfold, talks to Good Money Guide after winning “Best Pension” in the 2026 Good Money Guide Investing Awards.https://www.youtube.com/watch?v=VU514ggwpTo Interview Transcript AI Generated Transcript Holly Mead (00:03)Welcome to Good Money Guide. name’s Holly Mead and today we are talking to Chris Eastwood. He’s UK CEO from Penfold, which has […]
- Penfold Pensions Passes £1bn in Assets as User Growth Accelerates – Online pension provider Penfold has reached a major milestone after surpassing £1 billion in assets under administration (AuA), doubling its total in just 14 months. The fast-growth fintech, founded in 2018 to modernise pension saving for UK consumers and employers, now serves more than 110,000 savers and 5,000 businesses. The company reached its first £500m […]
- Chris Eastwood, Co-Founder of Penfold on the humanisation of digital pensions – There is a juxtaposition within the pension world. That of you must do something immediately, but you must then do nothing. And you must take on some risk otherwise you risk losing out. In this interview, we talk to Chris Eastwood the CO-Founder of Penfold a digital pension app on why you should engage with […]
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
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