Launched in 2014, PensionBee took personal pensions online. When I interviewed the founder and CEO Romi Savova she said 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.
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.
- Combine all your old pensions into one
- Simple investment choices
- Clear and transparent pricing
- 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
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.
Simple, easy, clear, trusted.
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!
Hassle free company with ethical pension option’s