Provider comparison
Smart Pension vs Penfold
Side-by-side comparison from the PerkIQ directory. Cover, pricing, regulator status, and fit at a glance.
Category
Pension & Retirement
Pension & Retirement
Best for
1-10,000+ employees
1-500 employees
Pricing model
Free for employer; 0.45-0.75% AMC for members
0.75% AMC for members
UK presence
Since 2015
Since 2018
Regulator
TPR & FCA
TPR
Strapline
Smart Pension is a digital-first workplace pension master trust used by 70,000+ UK employers. Quick onboarding, modern member app, and competitive AMC make it a popular choice for SMEs.
Penfold is a digital workplace pension built for modern SMEs and self-employed workers. Simple setup, transparent fees, and a beautiful app that members actually engage with.
What's included
- Fast setup. Sign up online and start auto-enrolment in under an hour. No paperwork, no broker required.
- Member app. Mobile-first pension management, employees can change contributions, switch funds, and project retirement income in-app.
- Sustainable default. Smart Sustainable Growth fund is the auto-enrolment default, with ESG screens and climate alignment baked in.
- API integrations. Native integrations with major UK payroll systems (Xero, Sage, BrightHR, Iris) for automated contributions.
- Mobile-first member experience. Polished iOS and Android app where members see balances, change contributions, switch funds, and project retirement income.
- Self-serve employer setup. Sign up online and start auto-enrolment in under 30 minutes. No paperwork or broker required.
- Sustainable default fund. ESG-aligned default fund with explicit climate and exclusion screens.
- Self-employed + employer in one app. Contractors and consultants can continue contributing between gigs without opening a separate scheme.
Who it's for
No fit notes published.
No fit notes published.
Pricing approach
No pricing notes published.
No pricing notes published.
At a glance
- Master trust authorised by TPR
- 1.5m+ members
- 70,000+ employer schemes
- Self-service setup in <1 hour
- AMC 0.45-0.75%
- Sustainable default fund
- TPR authorised
- Founded 2018, London
- Self-employed & employer plans
- Mobile-first member experience
- 0.75% AMC
- Free employer onboarding
Pick the right one with data, not a sales pitch
Score your benefits stack with PerkIQ and you'll see which of these (or another provider entirely) closes the biggest gaps for your team.
Information on this page is editorial, gathered from public sources and the providers' own materials, and does not constitute financial advice or a recommendation. For a quote, contact each provider directly or speak to an FCA-authorised broker. PerkIQ is not a reseller and earns no commission on provider sign-ups.
