+£25
Personal Pension10 mins
PenfoldPersonal Pension
£25 Free Cash•10 mins
£25 Free Cash
+£25What is Penfold?
Penfold is a UK digital pension provider that lets you set up a personal pension (SIPP) in minutes. Make flexible contributions from your phone and get 20% tax relief automatically added by HMRC. Ideal for self-employed workers, freelancers, or anyone wanting a simple top-up pension.
Penfold Savings Limited is FCA-regulated (No. 826097) and FSCS-protected up to £85,000. Your investments are in BlackRock funds, held in custody by Bank of New York Mellon. Founded in 2019 with around 100,000 customers.
Launched
2019
Customers
100k+
Google Play
4.9 (0k)
★★★★★★
Key Terms
Profit
+£25
Upfront deposit£25
Free cash arrives2 months
Important: Pension funds locked until age 55+
Step by Step Guide
Chris's overview
Optional·1 min read
One of the simplest investment offers. Deposit £25, get £25 back (£20 from Penfold within 2 weeks, plus £5 HMRC tax relief in about 2 months).
This is a real pension, so your £25 deposit is locked until retirement age (currently 55, rising to 57 in 2028). The simplest approach is to just leave it growing as part of your overall pension pot. There are no exit fees if you ever want to transfer it to another provider.
Annual fund charge of 0.75% (about 38p a year on a £50 pot). If you are happy locking away £25 for the long term, this is an easy 100% return.
1
Sign up to Penfold
You are here5 mins
- Click the button below to open Penfold via the referral link
- Create your account and verify your identity
- Choose a pension plan and risk level (you can change these later)
2
Deposit £25
3 mins
- Make a one-off payment of at least £25 into your pension
- Transferring an existing pension does NOT count. Must be a new deposit
- No recurring payments required. A single deposit is fine
3
Receive £25 bonus60d
2 mins
- Penfold adds £20 to your pension within 2 weeks of deposit
- HMRC adds £5 tax relief in about 1 to 2 months
- Total £25 bonus added directly to your pension pot
- If you enjoy using Penfold, continue building your pension with them
- If not, you can transfer to another pension platform with no exit fee. Penfold will sell your portfolio and transfer the balance across
Offer Complete
Done? Tick off each step above to see your total.
Quidsy Share: More Free Cash
Make £25 per friend with Penfold
Penfold gives you £25 for every friend you refer.
1Add your Penfold link to Quidsy
2Share your Quidsy link
Your friends will always see your links, such as Penfold, in the guide above.
Sign in to grab your Quidsy invite link and start earning.
Quick Penfold Review
Completed the offer? Awesome! Here's our full review on why Penfold could work well for you going forward.
Penfold at a glance
Updated:
An app-first personal pension built for self-employed people who don't get one through work. Quidsy has a referral that doubles your first £25 deposit once tax relief and the bonus arrive. Ideal for freelancers, contractors, or anyone juggling old workplace pensions. Just remember the money is locked away until you turn 55.
Customers
100k
UK accounts
Founded
2019
7 years old
App Store
4.8 ★
1.1k reviews
Google Play
4.9 ★
0.3k reviews
Penfold makes pension saving painless. The app is clean, contributions are flexible, and HMRC tops up every deposit with 20% basic-rate tax relief. For the referral, you pay in £25 and £50 lands in your pension once HMRC's tax relief (£5) and Penfold's referral bonus (£20) both arrive. Your £25 has doubled.
The thing to be aware of is that this is a real pension. Your deposit and the bonus are locked until retirement age (currently 55, rising to 57 in 2028). You can transfer to another pension provider down the line, but you can't withdraw early.
The fees aren't the cheapest going either, so if you plan to use Penfold as your main long-term pension, it's worth comparing against PensionBee, AJ Bell and Vanguard once you've claimed the £25. If you're just here for the bonus, deposit the £25, leave it to grow, and you've got one of the easiest offers on the site.
Penfold Savings Limited is authorised and regulated by the Financial Conduct Authority (FRN 826097). The Penfold Plan is 100% FSCS-protected; other Penfold plans are covered by the FSCS up to £85,000 per person. Pensions are an investment, your capital is at risk, and you cannot access funds until age 55 (rising to 57 in 2028).