[UK] Penfold and Deel partner to launch embedded workplace pensions

The workplace pension provider Penfold and global payroll platform Deel have announced their new integration: pension administration embedded directly into the Deel platform, FF News reports.

The integration will be managed through the Deel Retirement feature, allowing UK-based businesses to automate the setup and administration of workplace pensions within their existing HR workflow. 

By merging Penfold’s pension infrastructure with Deel’s global payroll technology, the companies reportedly aim to reduce the administrative burden on HR teams who previously had to manage the systems in isolation. 

The integration provides end-users with a unified view of financial wellness, allowing employees to track their pension balance and latest contributions without leaving the Deel platform they already use for work.

According to Deel and Penfold, the integration addresses a critical gap in the UK market. Research from the Living Wage Foundation shows that approximately 7 in 10 workers saving into a workplace pension currently don’t contribute enough to avoid the risk of poverty in retirement. 

Chris Eastwood - CEO of Penfold - said, "Employers increasingly expect payroll, HR and workplace benefits to work together rather than as separate systems to reduce administration for businesses. Payroll platforms are increasingly becoming the operating system for managing people, and workplace pensions should be a natural part of that experience. 

“By deepening our partnership with Deel, we're making it easier for employers to provide a high-quality workplace pension without adding unnecessary complexity. At the same time, employees can see their pension alongside the other tools they already use at work, making it easier to stay informed, understand their contributions and engage with their long-term savings. This partnership is an important step towards making workplace pensions feel like a seamless part of running a business and a more visible, accessible part of employees’ financial lives."

Source: FF News

(Quote via original reporting)

The workplace pension provider Penfold and global payroll platform Deel have announced their new integration: pension administration embedded directly into the Deel platform, FF News reports.

The integration will be managed through the Deel Retirement feature, allowing UK-based businesses to automate the setup and administration of workplace pensions within their existing HR workflow. 

By merging Penfold’s pension infrastructure with Deel’s global payroll technology, the companies reportedly aim to reduce the administrative burden on HR teams who previously had to manage the systems in isolation. 

The integration provides end-users with a unified view of financial wellness, allowing employees to track their pension balance and latest contributions without leaving the Deel platform they already use for work.

According to Deel and Penfold, the integration addresses a critical gap in the UK market. Research from the Living Wage Foundation shows that approximately 7 in 10 workers saving into a workplace pension currently don’t contribute enough to avoid the risk of poverty in retirement. 

Chris Eastwood - CEO of Penfold - said, "Employers increasingly expect payroll, HR and workplace benefits to work together rather than as separate systems to reduce administration for businesses. Payroll platforms are increasingly becoming the operating system for managing people, and workplace pensions should be a natural part of that experience. 

“By deepening our partnership with Deel, we're making it easier for employers to provide a high-quality workplace pension without adding unnecessary complexity. At the same time, employees can see their pension alongside the other tools they already use at work, making it easier to stay informed, understand their contributions and engage with their long-term savings. This partnership is an important step towards making workplace pensions feel like a seamless part of running a business and a more visible, accessible part of employees’ financial lives."

Source: FF News

(Quote via original reporting)