Startup of the Week - Penfold
by Startacus Admin
Penfold - The fintech startup that's making it a doddle for the self-employed, freelancers and contractors to organise their pensions...
Pensions are never an easy subject to get your head around. However when you’re self-employed it can be even harder. With recent stats showing that only 14% of the UK’s self-employed people are actively saving for old age, it’s clear that it is an issue that needs addressing. And that is just what our latest startup of the weekis aiming to do. Penfold is a fintech startup that provides pensions for the self-employed, freelance and contractors.
Recognising that it can be difficult when you are self-employed or freelance to accurately predict your income, they have ensured that their pension solution is fully flexible. Once you open your account, you can add to, change or even stop your payments at any time. An account can be set up in a matter of minutes and you can therefore start saving straight away.
If you’ve had other pensions in the past, they can hunt them down for you and consolidate them, therefore making it much easier for you to assess what you’ve got.
Also, as the government adds a 25% bonus to everything you save into a pension, Penfold will sort that for you. No need for you to do anything - they’re on top of it.
In terms of fees, all Penfold customers pay a single fee of 0.75% per year based on the average value of their pension in that particular year.
Pensions can be a pretty complex affair at the best of times and when you’re self-employed or freelancing, they can unfortunately be way down the list of your priorities.
Therefore we reckon the fact that Penfold is taking charge and removing the hassle means it ought to be welcomed with open arms!
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Need some support to validate your startup and get investor-ready? The Raise Spring Accelerator programme is open for applications and will give you just that!
The lowdown on Kanda, the fintech startup that's on a mission to help tradespeople build their businesses and win better work.
Submer secures investment to support expansion and growth of its innovative energy and water saving technology.
It may still be a pretty challenging and stressful time for businesses. However, here are a few basic tips that should help...
10 innovative startups on a mission to solve some of the aerospace industry's key challenges are announced as participants in the next Aerospace Xelerated programme.
Creating an alcoholic drink startup? Richard Horwell from Brand Relations shares advice on how to overcome some of the key challenges when doing just that.
JustCarbon on mission to bring cryptocurrency benefits to nature-based solutions, driving increased investment and supporting global carbon market growth.
Chantelle Arneaud from Envestors shares insights on how the startup/scaleup investment sector has fared over the last year and advice on raising money for your business in 2022.
Chasing up money your business is owed? Amanda Hamilton, Chief Executive of the National Association of Licensed Paralegals shares her insights on how to do just that.
The award-winning accelerator Lloyd's Lab is back and on the look-out for innovative startups, scaleups and entrepreneurs for its next cohort, Cohort 8.
Published on: 17th January 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Early stage tech startups sought for Raise Spring Accelerator programme 18th Jan 2022 Need some support to validate your startup and get investor-ready? The Raise Spring Accelerator programme is open for applications and will give you just that!
- Planet First Partners backs cooling tank technology that reduces data centre climate impact 18th Jan 2022 Submer secures investment to support expansion and growth of its innovative energy and water saving technology.
- Aerospace Xelerated announces the AI and Autonomy startups in its 3rd cohort 14th Jan 2022 10 innovative startups on a mission to solve some of the aerospace industry's key challenges are announced as participants in the next Aerospace Xelerated programme.
- FORMEL Skin Secures €30M Series A to Expand its HealthTech Platform 21st Dec 2021 Major investment for FORMEL Skin to help further develop its dermatology platform, launch new medical treatments and expand into new markets.
