How Penfold is taking the pain out of pensions

Co-founder Pete Hykin tells Zlata Rodionova about his mission to demystify pensions with a digital platform that gives users more power over their funds

Left to right: Pete Hykin, Stuart Robinson and Chris Eastwood raised £6m from investors (Penfold)

If you’re self-employed or the sole director of a company it can be easy to put saving for a pension at the bottom of your to-do list.

Almost 5 million people in the UK are self-employed – or 15 per cent of the workforce. However, just 30 per cent of the self-employed contribute to a pension, according to research from Fidelity

Pete Hykin, the co-founder of digital pension platform Penfold, argues that the inflexible and jargon-filled traditional providers that are currently dominating the market are to blame.