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What is PensionBee?

Launched in 2014, PensionBee took personal pensions online. They say they are on a mission to make us all pension confident by making the whole process as easy as possible. You can go online and either set up a new pension or transfer your old pension into it. You can sign up for free and download an app to your smartphone. You’ll only be charged once you choose a plan. These come in all shapes and sizes including low risk plans for people nearing retirement who want to bank what they’ve got, or higher risk plans for people who hope for higher gains. A selection of ethical and responsible plans allow people to ensure their funds match their ethical or religious beliefs. The site surged in popularity during the pandemic visitors up by 37% as pensions, like everything else goes online. As of July 2020, it was attracting 400,000 visitors each month.

PensionBee Expert Review

Investing is quick and simple. Once you’ve signed up, you’ll be presented with a number of different plans. They come in three different risk levels.

High risk focuses on high risk/return models. Low risk plans focus on established firms with a good financial history and medium risk include their tracker plan which changes the way they invest depending on your age.

If you’re self-employed, there’s also a plan enabling you to contribute as much or as little as you want.

PensionBee Pros

  • Combine all your old pensions into one
  • Simple investment choices
  • Clear and transparent pricing

PensionBee Cons

  • You can only invest in a few funds
  • Not as flexible as a SIPP
  • Although fees are low they are still slightly higher than competitors

PensionBee Customer Reviews

PensionBee App
Average rating:  
 7 reviews
 by Chris Culshaw

I had lots of pensions that I wasn’t keeping track of. When I saw pensionbee I thought I’d give it a go.

I was surprised with how simple it was to use, and the simplicity of moving all my pensions.

I now have everything in one spot, and I’m able to change how my money is invested.

 by Craig

Simple, easy, clear, trusted.

 by Tom Mitchell

I’ve had an excellent experience so far with PensionBee. I had lots of small pension pots and just kept putting off doing anything with them because it all seemed so complicated. About four or five weeks ago, I finally succumbed to PensionBee’s emails, registered an account, and then transferred over four pots. This morning I received confirmation that the final pot of the four is to be transferred over. No effort on my part, one place for my pots (makes me feel better seeing a bigger number when you put them in one place!), and an excellent charging structure. Honestly, give them a go. I don’t think you’ll be dissatisfied!

 by John

Hassle free company with ethical pension option’s

 by Marie

5/5

 by Emily

A game changer

 by Tom

So easy to use, and just what’s needed now

PensionBee CEO Interview

Romi Savova, PensionBee CEORomi Savova, PensionBee CEO on narrowing the pension advice gap

A recurring theme when I talk to CEOs and Fund Managers about long-term investing is that to make money most of the time you should do absolutely nothing. That, however, is in stark contrast to the fact that you must do something absolutely immediately, as soon as possible, this instant. read more

PensionBee FAQs:

Is Pensionbee any good?

Yes. PensionBee offers an affordable, and accessible pensions service. A single annual fee means there is no need to worry about multiple hidden fees and leaves more from your pot for you. It’s great for someone who wants a reasonably performing fund at a good price.

What is PensionBee?

PensionBee is an online pension provider. It offers a selection of pensions catering to different interests, requirements and appetite for risk. It’s a simple, affordable way to consolidate other pensions and manage your plans.

Is PensionBee a SIPP?

No. All pensions are managed by global advisors such as State Street Global, HSBC and Legal & General. You can, however, choose different pensions. You can compare SIPP providers here

Can you set up a new pension with PensionBee?

Yes, starting a pension is quick and simple. You can download the app, sign up and select a plan. The annual fee comes from your pension pot.

Can I transfer my current pension to PensionBee?

Yes, PensionBee makes it easy to transfer your existing pension into a new account. It’s a great way to combine multiple pensions into one place.

Is PensionBee safe?

PensionBee is protected by the financial services compensation scheme. However, as with all investments your capital is at risk.

Who owns PensionBee?

PensionBee was founded by Romi Savova in 2014 after formerly working at Goldman Sachs and Morgan Stanley.

How does PensionBee work?

PensionBee works with a simple sign up. You can download an app, choose a plan and manage your plans from any device.

How much does PensionBee cost?

You’ll pay a single annual fee of between 0.50% and 0.95% depending on which plan you choose.

PensionBee News

Richard Berry

Richard Berry

Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.
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