Penfold adds workplace pensions to Perkbox benefits app

Penfold has partnered with Perkbox to add workplace pensions to Perkbox's employee benefits app, bringing its pension product to a platform used by nearly 4 million employees worldwide.

Employers using Perkbox can now offer Penfold's digital workplace pension alongside existing benefits and rewards in the same app. The arrangement is designed to place retirement saving within a platform staff already use for workplace benefits.

The addition expands Perkbox's financial wellbeing offering. The business says it works with more than 7,500 organisations and combines perks, wellbeing tools and rewards in a single app.

The partnership reflects a broader push by benefits platforms to give pensions a more prominent place in employee offerings. Penfold's research found that UK workers rank a workplace pension above flexible working, bonus schemes, healthcare plans and lifestyle perks when deciding whether to join a new employer.

That points to a shift in how employers position pensions within benefits packages. Rather than treating retirement saving as a back-office function linked mainly to auto-enrolment, providers are increasingly presenting it as a visible part of employee engagement and financial wellbeing.

Perkbox has built its business around giving employers a central place to manage a range of staff benefits. By adding pensions to the app, it moves further into an area that has often sat outside the day-to-day benefits experience, despite its importance to long-term financial planning.

Founded in 2018, Penfold focuses on workplace pensions and pension management for employers and savers. It is one of a group of newer providers seeking to modernise administration and improve how savers interact with their pension pots through digital tools.

For employers, the practical effect is that pensions can be presented in the same environment as discounts, rewards and wellbeing services. For employees, the aim is to make retirement planning more visible within a familiar benefits interface.

Perkbox says employees on its platform have saved £27,788,775 through discounts and benefits in 2025. It described the pension addition as part of a wider financial wellbeing offer.

Natalie Jutla, Head of Financial Wellbeing at Perkbox, said: "Pensions shouldn't feel out of reach. We wanted to partner with someone who makes this simpler for both employers and employees. This gives our customers real choice and the tools to engage with their financial future on their own terms."

The agreement also gives Penfold access to a large base of employers and employees already using Perkbox. That distribution channel could help the pension provider expand its reach in the workplace market, where it competes with established pension schemes and newer fintech-led entrants.

Market shift

The workplace pensions sector has been reshaped over the past decade by auto-enrolment, which brought millions more people into retirement saving. More recently, providers have shifted their attention to engagement, aiming to get savers to pay closer attention to contribution levels, investment choices and retirement outcomes.

Benefits providers have also widened their focus beyond traditional perks. Financial wellbeing products, including salary advances, savings tools and pension-related services, have become more common as employers respond to concerns about household finances and staff retention.

In that context, embedding pensions within a broader benefits platform may help employers present retirement saving as part of their overall employment offer. It also reflects the commercial logic of consolidating services into one workplace app rather than asking staff to navigate separate systems for different benefits.

Chris Eastwood, Chief Executive Officer of Penfold, said: "We are excited to have joined forces with Perkbox to champion our digital workplace pension. Perkbox has built an excellent platform that supports millions of employees, and we are committed to helping them further by providing a workplace pensions offering that prioritises their financial wellbeing. Traditional perks such as gym memberships, flexible working and bonus schemes will always remain appealing to employees, but they don't offer the future financial security that a core workplace pension does. The tides are turning, and employees are looking to establish a secure financial foundation for the years to come. Our partnership with Perkbox will allow employees to begin retirement planning by using our digital workplace pension."