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.
The Penny Pension is administered by Quai Investment Services (FCA Number: 922590). You can see their official FCA page here.
Your pension cash is invested in a fund 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 managed by HSBC or Vanguard. If something were to happen to Penny, HSBC, Vanguard, or Quai, the Financial Services Compensation Scheme guarantees your assets are protected up to £85,000.
More information about FSCS protection: https://www.fscs.org.uk/what-we-cover/
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.