Compare PensionBee Pensions

PensionBee Pensions logo
  • PensionBee allows you to consolidate your pension pots into a single personal pension.
  • Offer a range of different plans.
  • Free to switch plans at any time.
Browse PensionBee Pensions FAQs

The value of a pension can rise and fall, as such your capital is at risk and you may get back less than you invest. Past performance is no guarantee of future results. Standard pension rules apply.

Compare PensionBee Pensions

  • PensionBee logo

    PensionBee

    • Min Investment
      No minimum
    • Investment Type
      Managed
    • Annual Fees
      0.28% to 0.95%
    • Open or Transfer
      Both
    • Access
      App, Online & Telephone

Other pension providers

  • Interactive Investor logo

    Interactive Investor

    • Min Investment
      No minimum
    • Investment Type
      Self Select
    • Annual Fees
      £239.88
      Buy/sell fees apply
    • Open or Transfer
      Both
    • Access
      App, Online & Telephone
  • AJ Bell logo

    AJ Bell

    • Min Investment
      £500
    • Investment Type
      Self Select
    • Annual Fees
      Custody charges 0% to 0.25%
      Buy/sell fees apply
    • Open or Transfer
      Both
    • Access
      App, Online & Telephone
  • Hargreaves Lansdown logo

    Hargreaves Lansdown

    • Min Investment
      Lump sums: £100
      Monthly: £25
      Transfers: £1,000
    • Investment Type
      Self Select
    • Annual Fees
      Up to 0.45%
      Other fees may apply
    • Open or Transfer
      Both
    • Access
      App, Online, Telephone & Post
  • Fidelity logo

    Fidelity SIPP (Self-Invested Personal Pension)

    • Min Investment
      Lump sums: £800
      Monthly: £20
      Transfers: £1,000
    • Investment Type
      Self Select
    • Annual Fees
      Up to 0.35%
      Other fees may apply*
    • Open or Transfer
      Both
    • Access
      App, Online & Telephone

This table is initially ranked by commercial agreements in place with the providers. This does not constitute advice or recommendation for any firm featured. The table can be reordered A-Z.

A firm's Annual Fee alone is not representative of the total fees you will incur. Fee structures between providers vary greatly. Some bundle their investment costs with the annual fee they charge, whilst for others this is separate. Other providers charge a fixed fee or may charge on a percentage amount. Percentage based fees can be impacted by tiering where you receive a discount on the fee charged on a portion of your balance in excess of a predefined threshold. You should always check the fees that will be charged based on your own situation and investment choice.

Nerdwallet UK does not provide advice or recommendations in respect of the suitability of pensions or firms that operate within the pensions sector. The content of this page is simply informative and presented to give you an overview of a selection of firms that may be able to help further regarding pensions requirements, depending on your personal circumstances.

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Last updated on 15 July 2021.

PensionBee Pensions FAQs

What is PensionBee?

PensionBee is a pension provider that enables people to consolidate their existing pensions into a single new personal pension plan. It aims to make managing your pension simple by having just one account, rather than needing to keep track of multiple pensions held with different providers. There are different plans to choose from, depending on the level of risk you want to take among other factors.

» MORE: How to trace lost pensions

Who is PensionBee?

PensionBee was founded in 2014 by Romi Savova and Jonathan Lister Parsons to try to make it easier for people to transfer and consolidate their pensions. It consolidates all your existing pensions in one place and makes it less complicated to see the progress you are making towards your retirement goals. The company is authorised and regulated by the Financial Conduct Authority.

How does PensionBee work?

When you sign up to PensionBee, you will add details about your existing pensions and give PensionBee permission to find and transfer these funds to your new account. You don’t have to transfer all of your pensions to PensionBee and can add more pensions if you wish once the account is set-up. In some cases, PensionBee may need to ask for further permission from you before they can transfer an old pension. When this process is complete, you can then manage your PensionBee account, choose your plan and make further payments towards your pension. You can start withdrawing your pension from the age of 55 (this will rise to 57 from 2028).

What are the different PensionBee plans?

With PensionBee you have the choice of a number of plans, such as Tracker, Tailored, Future World, Shariah, Match and Preserve, depending on your aims and preferences. They present different levels of risk and invest in different kinds of companies and shares. You can switch plans at any time at no extra cost. There may be an increase or decrease in costs if you are switching to a different plan with different annual costs but you will not be charged for the switch itself.

How long do PensionBee transfers take?

The time it will take for PensionBee to transfer all your pensions into a new account will depend on how many pensions you have, how much information you provide, and how long it takes your existing pension providers to complete the necessary paperwork. On average it may take up to 12 weeks.

What are the PensionBee fees?

It is free to create a PensionBee account. You will then need to pay a percentage of your pension funds as an annual management fee, which may differ according to the plan you choose. There is no additional charge for making contributions to your pension, but you may have to pay transaction costs set by PensionBee’s money managers. There is also a full withdrawal fee should you withdraw everything within 12 months of having a live balance with PensionBee. Fees can change over time and you should check all fees with PensionBee before proceeding.

Does PensionBee have an app?

Yes, PensionBee has a mobile app where you can monitor the current balance of your pensions once you have transferred them.

Where can I find PensionBee reviews?

Trustpilot and other independent review sites will show you what other customers thought of PensionBee.

Should I get advice when transferring my pension?

This completely depends on your own individual needs and circumstances. Some people may feel confident handling their own affairs while others will enjoy the peace of mind that comes with getting advice. In some cases it may be a legal requirement for you to seek advice before being allowed to transfer a pension as they can be very complex products and by transferring them you may lose significant and valuable pension benefits. If you are in any doubt, always seek qualified professional advice.

Transferring pension funds may mean losing significant benefits. If in doubt, always seek qualified, professional advice. Services offered by this provider may change over time. Always check Ts&Cs.