Consolidating your pensions with Penny means bringing together all your old pensions into one clear, simple plan. Here’s why many people choose to consolidate with us:
1. Simplicity 🧘🏾♂️
Managing multiple pensions across different providers can be confusing. With Penny, everything is in one place — easily viewed in the palm of your hand. No more paperwork or forgotten providers.
2. Peace of mind 😌
We keep things secure, transparent and easy to follow. You can track your pension every day in the Penny app, check its value, and see how it’s growing—without needing to chase statements or providers. For any in-progress transfers or finding of pension details, we keep a tracker in the app, and you are notified at every step.
3. Clear, simple fees 🔢
We charge a flat 0.58% Annual Management Charge. In addition, you will also pay a small fee from the fund provider (like Vanguard or HSBC), depending on the fund you choose. For our default fund, the overall charge is 0.75%. Everything is clearly explained in the app, so there are no hidden surprises.
4. You choose how your money is invested 📈
With Penny, you can pick a fund that suits you—whether you prefer a lower-risk option or something with higher growth potential. The choice is yours, and you can switch funds if your needs change.
5. Up-to-date data, always available 📱
Our app shows the latest performance updates from your Penny Pension. You can log in at any time to see how it’s doing and what it’s worth. Please remember pensions are long-term investments that will rise and fall with market performance so it's best to note the performance over years, not days
6. Support that speaks your language 💬
Our customer support team is here to help if you need us. No jargon. quick resolutions. Clear answers and customer-centric people. This is reflected in our excellent TrustPilot score of 4.7/5 and app store score of 4.6/5.
7. Security 🔒
Your pension is FCSC protected up to £85,000. HSBC or Vanguard manages your funds. Your app and Scheme are FCA regulated.
Important note:
Penny doesn’t offer financial advice and can’t tell you whether consolidating or investing in a particular fund is right for you. If you’re unsure, it’s worth speaking to a regulated financial adviser.
* Trustpilot and app store score correct as of 15/08/2025
* FSCS protection doesn't mean that your pension value is guaranteed. The value of your pension will rise and fall depending on how it is invested and the performance of the wider market and you could get back less than you put in. Your capital is at risk.