Penfold has launched a digital pension scheme aimed at the self-employed following a successful £2m funding round.
The start-up firm - which became regulated by the Financial Conduct Authority (FCA) in May this year - set up the digital scheme to directly help freelance and self-employed workers easily save for their retirement in a simple, mobile-based way.
The online platform offers easy switching and payroll integration, saves money for businesses by switching workers to salary sacrifice, involves a low administration burden, and offers low fees.
Members of the scheme will be able to access their pension through a mobile app, set to launch in 2020.
Harper James Solicitors provided legal support to Penfold throughout the funding round.
Corporate solicitor Jas Bhogal said: "We're pleased to be helping this innovative product into the market, with sufficient funding behind them thanks to our support during the investment round.
"Penfold were a hands-on client with a strong understanding of the process, which has meant a fantastic outcome for all."
Penfold co-founder Chris Eastwood added: "[Harper James Solicitors'] subscription model works in a way which totally suits our business as a start-up, and we look forward to working with the team as we continue to grow."
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