- 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.
Ease of use
Simple interface and low friction onboarding. Easy to check balance and plan for retirement. Got great customer service when I contacted them for help.
Best Pension Provider for Freelancers
I’m a freelance writer and I wouldn’t be able to get a pension as easily without Penfold. Its so easy to invest every month and the app is a breeze to use. I’ve been saving with Penfold for just over five years now and my only complaint is that I wish it had been around 20 years ago so I could have started with them then!
awesome
makes it really clear what’s going on with my pension and the impact of choices i could make
Modern
I can do everything electronically and with the bank integrations, it’s simple to set up / change my direct debit and even see how my pension is doing from my mobile using their app. Outstanding!
innovative
they understand the pensions market
Seamless
Penfold is extremely easy to set up and use. The app allows me to keep an eye on my pension, get realistic forecasts of what my life as a pensioner will look like, and make changes if I don’t like what I see!
Superb
I really like the portal and the information available, the forecasting tools is very helpful to predict future pension income and what adding additional funds means to the outcome.
innovation
They are good at keeping the focus on the techonology and keeping the focus on the customer
Efficient
Great and easy to use product with simple UI/UX
Easy and straightforward
Good user interfaces, the whole process is clear and straightforward
Simplicity
Straightforward app.
Good growth.
Simple
Amazingly easy to work with from an employer perspective and a fantastic app from an employee perspective
Excellent
Great returns, easy to use and a simple but good app that does what is needed
Best provider by far!
Penfold is easy to use, implementation is supportive and straightforward and the team are friendly, helpful and focused.
Brilliant
Technology lead making my Pension simple to manage and understand and also stealla performance
Seemless
Makes planning for your retirement easy to understand
Very helpful
Understanding of client needs and future goals
Easy process
Makes the whole pension process simple. Highly recommended.
Clear and trustworthy
Penfold makes pensions feel simple and unintimidating. The app is easy to use, the language is clear, and I always know where my money is invested and how it is performing. I like that I can make changes quickly without paperwork or chasing support, and that everything feels transparent. Compared to more traditional pension providers, Penfold gives me far more confidence and control over my pension without needing to be an expert.
Trustworthy
Communication and visibility of pension product and services. I know exactly what’s happening to my pension in real time.
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
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Pricing
(4)
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Market Access
(4)
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Online Platform
(4)
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Customer Service
(5)
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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.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
