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πŸ”’ How safe is my money?
James avatar
Written by James
Updated over a week ago

Security is extremely important at Penny.

Penny is a regulated finance company. 🏦

  • Penny is authorised and regulated by the Financial Conduct Authority (FCA Number: 931299). You can see our official FCA page here.

  • Your pension plan is managed by HSBC or Vanguard depending on which plan you choose

When you transfer your pension into your new Penny pension account, provided by Quai, the investments are held by HSBC or Vanguard. If something were to happen to HSBC, Vanguard, or Quai, the Financial Services Compensation Scheme guarantees your assets are protected up to Β£85,000.

It is important to understand that this 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.

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