Pensionbee - Any feedback?


#1

Pensionbee looks like a good service, are there any of their customers on here that can provide any real life feedback? How long does it take for the transfers to take place?

I’m after a referral link before I sign up (we will both earn a £50 credit) You must have at least one active pension to qualify.


PensionBee
#2

I’m trying to work out their fees compared to where I am now.

Charles Stanley Direct charge a 0.25% fee for using the platform plus I’m charged 0.22% by Vanguard for holding their fund.

PensionBee seem to just charge a 0.5% to 0.7% fee which send to make them competitive?

A downside is that you can’t choose where you money goes. Their 0.5% pension is weighted 54% in the UK and with Brexit around the corner that might be a bit risky?

(edit) I’m no financial expert so take what I said with a pinch of salt!


#3

I’ve got a Pensionbee account, they’ve got a range of three (it might be 4 now) funds and I’ve got the most expensive one because it will make the pension less risky as you reach pension age. The others I believe are just a fixed ratio of investments. I used them to transfer the small pensions I’d accumulated through different jobs into one.

They’re decent and their website is easy to understand, I’m not 100% sure if they’re any better than any other company at transferring them in than other companies but it was simple enough. They’re very responsive which was good but the website is a bit barebones at the moment. There’s no way of seeing the performance of your pension excluding transfers in. I think they’re competitive with companies where you don’t pick your investments, DIY tends to be slightly cheaper.


(matt) #4

PensionBee are awesome. Transfer times depend on your provider (ranging from days to a few months in the worse case). Here’s a referral code https://www.pensionbee.com/?ast=lH2zba


( surohpotsirhC) #5

This is an intriguing concept. I should really check out my private pension options. I’ve got on, but I haven’t changed it since I took it out, about 16 years ago ::expressionless:


(Richard Lawson) #6

I won’t post a referral link as there’s one above. I’ve transferred a couple of pensions to PensionBee but the majority to Nutmeg - which was actually a lot easier/quicker.

As far as their funds go I went for the Match, their Tailored plan seemed to cut the equity proportion too early, reducing each year until 2043 instead of a few years before the end. I’d like to take more risk now for reward.


#7

My old Aviva one offered more customisation on funds so your old one may not necessarily be worse than PensionBee, but it would be worth seeing what you’re currently invested in!

I may move to a SIPP in a few years now that I’ve got them all in one place.


( surohpotsirhC) #8

I’ll see if I can work it out. I need a proper pension comparison service


(Keri) #9

I’m going to have a look into this as I have 3 pensions, 2 of which I only paid into once or twice before I left that job! Would be good to get them all together in one place in a simple way.


(Danny) #10

What appears to be quite an in depth review

http://moneytothemasses.com/saving-for-your-future/pensions/pensionbee-review-is-it-the-best-way-to-find-and-consolidate-your-pensions


#11

£50 for both of us if you sign up here :grin:


(Keri) #12

I am really impressed with Pension Bee so far, first couple of pensions consolidated no problem. If anyone wants a referal link for £50 free then let me know (I get £50 too).