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.
The impact of standards, ethics and conduct on business success and profits - Work.Life has some interesting insights...
.png)
The lowdown on Space32 - the startup that wants to help hybrid-working businesses find the working space and solution that's right for them.
.png)
Global Tech for Good initiative seeks innovative startups and scaleups that are creating positive social impact and enhancing people's lives through tech.
The lowdown on Bidnamic, the startup that's combining advance machine learning with human expertise to help retailers to maximise revenue and profitability from Google Shopping.
Innovative Czech fintech startup 4Trans raises investment to expand first of its type AI driven factoring services across Europe.
Edinburgh-based life science company Cytomos secures funding to support further development of its innovative cell analysis tech.
Ethical Equity and Streets Consulting join forces to deliver Founder Workshop to help close the inequality gap in startup to scaleup funding.
Fancy being featured in this year’s SmallBiz100, which showcases the best of Britain’s vibrant small business community? There's just a couple of days left to do just that!
Screenloop secures major investment to support further development of its AI-driven recruitment platform that helps companies build the best teams and removes unconscious bias.
New research from School of Marketing reveals the impact that Covid-19 has had on key business sectors in the UK.
Published on: 17th January 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- How the pandemic affected each industry 27th Jun 2022 New research from School of Marketing reveals the impact that Covid-19 has had on key business sectors in the UK.
- The Finalists of DBACE 2022 are revealed 21st Jun 2022 The lowdown on the innovative young visionaries that are in the running for this year's Deutsche Bank Awards for Creative Entrepreneurs.
- OKAPI: Orbits raises €5.5m for Breakthrough Space Traffic Management Software 13th Jun 2022 Innovative German SaaS startup OKAPI:Orbits secures investment to support its mission of securing efficient and safe operations in space.
- Kita, the world's first carbon insurer, raises £350k in pre-seed round 9th Jun 2022 Innovative startup, Kita secures investment to support build and launch of its essential carbon insurance products.
