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Also they limited cashback to the price of metal subscription

I guess he doesn’t need satisfied paying customers now he’s made a billion quid.


Is this a rehash of the Telegraph article above? I can’t read that as I don’t/won’t subscribe.

I’m more interested in the other players named. Anyone any experience of PensionBee?

I’ve consolidated my pensions with them, still not sure what makes them fintech :thinking:

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And what did you think of them, and the process? Obviously they don’t do it for nothing.

I was put off by the fact that they just seemed to want to go straight ahead and consolidate, without really discussing it with me.

I knew that I just wanted to consolidate so it was great, I did it a few years back before online documents were a big thing and it was refreshing to sign things on your phone etc.

My current work pension is with Scottish Windows and they’ve just relaunched their website so there’s not as big a difference there as there once was

What did you want toy talk about before making a decision?

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Just whether it made financial sense, and if they negotiated decent transfer values. I’m a couple of years away from retirement, and I don’t want to lose 50% for the privilege of consolidating. Also if I could take a lump sum if required.

Fair enough, I think they’re very much set up for younger people with lots of small pension pots to consolidate, rather than giving more slightly more complicated financial advice.

I just wanted to get my pensions in one place, figured by the time I retire in about 400 years the landscape will have changed again.


It sounds like you’d be better off speaking to an independent advisor at your stage

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Did you compare costs or performance?

I found PensionBee to be more expensive than Virgin Money which I took out in 2000.

It’s an interesting one as PensionBee have had a few years as a first mover in this as a fintech, but soon/now Moneybox, Plum, Chip, Freetrade (SIPP) & Trading212 (SIPP) will all be apps where young people or anyone with a smartphone can consolidate their pensions easily, affordably and transparently.

I have a tiny old pension that I switched to PensionBee years ago but I don’t find their choice of funds compelling (although better than where they were). Would switch to Plum and later down the line Freetrade when I switch from my current employer.

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And the old timers are in on the game too. Vanguard finally offers the SIPP and will handle transfers.

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Thanks for replies.

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Costs yes, I went for their cheapest fund, I’ll do the tapering as I get older myself.

Performance I wasn’t too bothered with because I just wanted a tracker. If I did it now I’d probably just get a Vanguard SIPP and one of their funds.

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I’m still not sure what’s fintech about a pensions provider that only has a website and sells other peoples funds.

They have an app too.

But yes, I don’t really have a high barrier to the word fintech: for me if it fuses incumbent finance (pensions) and modernises it (app, good user experience & branding) then it passes my low barrier for fintech.

Think FinExtra could do with seeking a proof reader :rofl:

Looks like Revolut are gathering feedback on launching FSCS protection. Horay!

I gave them feedback.


Revolut has a web app now


Nice find

Taking a selfie on my laptop to login was an interesting touch

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