Penfold pension drawdown hub: published fees, investment options and features. Updated for 2026. Guidance, not advice.
Estimated yearly cost at £250,000: £1,350 a year (monthly income, no share deals; Includes fund charges).
Position on cost: Ranks 18 of 18 fully priced platforms on cost at £250,000. Penfold against every DIY platform
| Drawdown admin fee | None Included in the yearly cost above |
|---|---|
| Regular income payments | Free |
| One-off (ad-hoc) withdrawal | Free |
| UFPLS payment | Free |
| Transfer out (exit fee) | Free |
| Minimum pot | Not confirmed |
| Cash in the pension | Not confirmed |
Fees checked 23 Sept 2026. “Not confirmed” means the charge is not published or we have not verified it; it is never counted as free.
Sources: Charges Guide · What fees do you charge? · Pension charges
Capital at risk. Comparison information only, not advice. Confirm charges on the provider’s own pages before you act.
Penfold is a digital personal pension with ready-made plans. The official Charges Guide (20 March 2026) quotes a single all-in fee on the Default Plan of 0.75% a year on the first £100,000 and 0.40% on the amount above, with no benefits withdrawal fees. The key features document lists flexi-access drawdown. It is closer to a consolidation app than a shares-and-ETFs SIPP.
Retirement access: Flexi-access drawdown. Official key features document lists flexi-access drawdown. Charges Guide (20 March 2026): no benefits withdrawal fees for new or existing customers.
Penfold Savings Limited (FRN 826097) was set up in May 2018 and launched in 2019 (official FAQ). Ready-made pension plans, not a shares SIPP.
Official Charges Guide: Default Plan single all-in fee of 0.75% a year on the first £100,000 and 0.40% above; no benefits withdrawal fees. Official key features list flexi-access drawdown.
Platform fees: Default Plan single all-in fee: 0.75% a year on the first £100k and 0.40% on the amount above; no benefits withdrawal fees
Fund charges (Ongoing Charges Figure) apply on top of platform fees and depend on your chosen investments. Use our calculator above to see the total annual cost for your specific pot size.
Range: Ready-made plans
Default, Lifetime, Standard, Sustainable and Sharia plans — not a shares SIPP
Eligible claims may be covered by the Financial Services Compensation Scheme (FSCS). If a SIPP operator or investment firm fails, the limit is £85,000 per person per firm; a pension provided by an insurer is normally covered in full. FSCS pension protection
Guidance only — this is not regulated financial advice. Confirm charges on the provider's official pages before you act.
No new verified updates this month. We only list items we can cite from an official RNS, company newsroom or official blog.
15 Sept 2026
On 15 September 2026 Penfold said pension guidance is available inside its workplace pension at no additional cost, including complimentary one-to-one sessions, welcome sessions and retirement forecast tools. It said this is guidance, not regulated financial advice. In a pilot of 31 members, it reported that every attendee felt more confident afterwards and that the sessions were rated 4.75 out of 5.
Last verified: 2 Nov 2026.
Also compare: Vanguard, Interactive Investor, AJ Bell Youinvest, Hargreaves Lansdown, Fidelity Personal Investing, and all UK providers we track.
Free, impartial guidance: Pension Wise offers free appointments to people aged 50 or over with a defined contribution pension, and MoneyHelper’s investment pathways comparison tool compares drawdown providers’ ready-made options. Both are backed by the government.