Fees and Charges

Penny charges a fee of 0.58% per year. This is called the Annual Management Charge (AMC).

Also, for your investment fund, HSBC charges a Fund Fee of 0.17% per year. This is for Penny's default fund, called HSBC Global Strategy Balanced. If you choose a different fund, the Fund Fee is 0.17-0.24%, depending on the fund you choose.

This means the total fee for your Penny Pension (in the default fund) is 0.75% per year.

When your old pensions transfer into your new Penny Pension, you stop paying fees to your old pension providers, and only pay Penny’s fees.

Please note: 1) Your chosen fund provider, HSBC or Vanguard, charges separate fees for certain fund-related activities and transactions, though these fees are typically low and disclosed in the fund provider’s document.

We are unable to assess if an existing provider is charging you less than Penny will charge, so you could end up paying more. We recommend that you research the fees of your existing pension policies in order to ensure that transferring your pensions to Penny is right for you.

AMC

0.58%

(Annual Management Charge)

The AMC is based on the total value of your Penny Pension. It is automatically deducted from your Penny Pension on a pro-rata basis at the end of each month.

Fund Fee

0.17% (HSBC Balanced)

Transfers

✓ Free

Contributions

✓ Free

Switching Fund

✓ Free

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SOME IMPORTANT THINGS YOU SHOULD KNOW

Pensions are long terms investments. It’s important that you know the value of your investment could go up as well as down. You could get back less than you put in. Past performance is not necessarily a guide to the future and pension investing is not intended to be a short-term option. Penny does not provide financial advice so please be sure that this investment is right for you.

Your current pension might have special benefits that will be lost if you transfer to Penny. These special benefits include: Guaranteed Annuity Rate (GAR), Guaranteed Bonus Rate (GBR), Guaranteed Minimum Pension (GMP) and Protected Tax Free Cash (PFTC) over 25%. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

Your current provider might charge you a transfer-fee to transfer your pension to Penny. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

You should consider the charges and benefits before transferring your old pensions to your new plan, and consider whether the risk and reward profile of the investments offered matches your needs. It may be that your current provider has lower fees than Penny - where this is the case, we recommend that you carefully consider whether to transfer your pension to Penny, as you may be better off not transferring in these cases.

If you are in any doubt about proceeding you should contact a financial adviser.

© Copyright 2025 Penny Technology Limited. Company registration: 11999643. FCA Reference Number: 931299.

SOCIAL

instagram

SOME IMPORTANT THINGS YOU SHOULD KNOW

Pensions are long terms investments. It’s important that you know the value of your investment could go up as well as down. You could get back less than you put in. Past performance is not necessarily a guide to the future and pension investing is not intended to be a short-term option. Penny does not provide financial advice so please be sure that this investment is right for you.

Your current pension might have special benefits that will be lost if you transfer to Penny. These special benefits include: Guaranteed Annuity Rate (GAR), Guaranteed Bonus Rate (GBR), Guaranteed Minimum Pension (GMP) and Protected Tax Free Cash (PFTC) over 25%. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

Your current provider might charge you a transfer-fee to transfer your pension to Penny. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

You should consider the charges and benefits before transferring your old pensions to your new plan, and consider whether the risk and reward profile of the investments offered matches your needs. It may be that your current provider has lower fees than Penny - where this is the case, we recommend that you carefully consider whether to transfer your pension to Penny, as you may be better off not transferring in these cases.

If you are in any doubt about proceeding you should contact a financial adviser.

SOCIAL

instagram

SOME IMPORTANT THINGS YOU SHOULD KNOW

Pensions are long terms investments. It’s important that you know the value of your investment could go up as well as down. You could get back less than you put in. Past performance is not necessarily a guide to the future and pension investing is not intended to be a short-term option. Penny does not provide financial advice so please be sure that this investment is right for you.

Your current pension might have special benefits that will be lost if you transfer to Penny. These special benefits include: Guaranteed Annuity Rate (GAR), Guaranteed Bonus Rate (GBR), Guaranteed Minimum Pension (GMP) and Protected Tax Free Cash (PFTC) over 25%. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

Your current provider might charge you a transfer-fee to transfer your pension to Penny. If this is the case, we will not transfer your pension, as you may be better off not transferring in these cases.

You should consider the charges and benefits before transferring your old pensions to your new plan, and consider whether the risk and reward profile of the investments offered matches your needs. It may be that your current provider has lower fees than Penny - where this is the case, we recommend that you carefully consider whether to transfer your pension to Penny, as you may be better off not transferring in these cases.

If you are in any doubt about proceeding you should contact a financial adviser.

Fees and Charges

We are unable to assess if an existing provider is charging you less than Penny will charge, so you could end up paying more. We recommend that you research the fees of your existing pension policies in order to ensure that transferring your pensions to Penny is right for you.

AMC

0.58%

PENSION

COMPANY

RESOURCES

SOCIAL

SOME IMPORTANT THINGS YOU SHOULD KNOW

© Copyright 2025 Penny Technology Limited. Company registration: 11999643. FCA Reference Number: 931299.

PENSION

COMPANY

RESOURCES

SOCIAL

SOME IMPORTANT THINGS YOU SHOULD KNOW

© Copyright 2025 Penny Technology Limited. Company registration: 11999643. FCA Reference Number: 931299.

PENSION

COMPANY

RESOURCES

SOCIAL

SOME IMPORTANT THINGS YOU SHOULD KNOW

© Copyright 2025 Penny Technology Limited. Company registration: 11999643. FCA Reference Number: 931299.