I’m currently 45. I have a few pensions from different places but can’t remember what ones I have.
I was considering using the pension feature in Monzo and wanted to get peoples opinions on it. Do you think it’s worth using?
I will be the first to admit I have little to no knowledge about how pensions work and am a little apprehensive about messing something up.
I signed up to it earlier in the week, mostly because I’ve got a few old employer pension pots floating around, and mostly couldn’t be bothered trying to find them myself.
It’s been on my mind that I need to consolidate them for a little while anyway - so I’m giving it a go to see if it can find them.
Apparnetly it’s around 16 days to find them - so will see what happens over the next week or two
It can be worth it but pensions a very big area to cover with lots of options out there. Do you have a current pension you are paying into? In my experience some employer schemes are usually pretty good on charges etc. so what you can do is use Monzo or another service like PensionBee to get all your schemes into one and then transfer that one pot to your current scheme.
I’ve used Monzo’s pension finder feature and after 3 months all results came back with “We couldn’t find your pension", so I ended up closing it to clear up the home screen clutter and joined PensionBee instead. 
After learning about the initial 3-month auto-enrolment postponement, I think I must have been not auto-enrolled into those workplaces due to the tiny periods I were there, so understandably there were no pots to find.
My experience with Monzo 
vs PensionBee 
Monzo uses Raindrop and the info they asked for are minimal - only your legal name, address during that employment and when you were employed there.
Cons: Their investment fund is restricted to just BlackRock and they auto move you to the less risky investment depending on your age.
There’s also a “single point of failure” problem you need to consider, as every queries from pension to day to day banking goes through their helpful customer support. It also can feel unnerving when you log into your daily banking app and see how much you’ve lost in your investment when the market is in turmoil.
Given you’re above 40, Monzo will put you in a less risky fund which invests in more bonds and less stocks.
PensionBee is the opposite, although it started off a bit annoying. They ask for your pension scheme provider and policy number. I think this is a poorer customer experience cos if I knew these info I would have found the pots and consolidated myself.
Managing is a lot easier on PensionBee, and you get a dedicated customer support person (but they’re not your financial advisor). Their mobile web and desktop web are straightforward, too.
They also give me full control over my risk and ethics appetite, instead of forcing me in a lower risk investment like Monzo.
Each to their own, but since pension is a long term investment with much larger value, I prioritise ease of access over the advertised interest.
The most important thing is having your pension in one place first, so if you need to consolidate first before anything, try Monzo. You can still invest in a SIPP with a separate provider while you’re waiting for the search to complete.