Founded in London in 2014, PensionBee has 360,000 customers and over £1bn of investments. It aims to help people locate and consolidate existing pension pots into one easy-to-manage pension plan.
The PensionBee SIPP is a pension plan that lets you choose how your savings are invested. It is a type of defined contribution personal pension, which means the value of your pension pot at retirement depends on the amount you pay in and the performance of your investments. When deciding where to invest your money you can usually pick from options including stocks and shares and several types of funds, policies and trusts. The government will provide tax relief to your contributions.
PensionBee combines and transfers your old pensions into a brand new online plan, managed by some of the world’s largest money managers, presenting a wide range of investment opportunities and financial management solutions.
PensionBee Financial Reviews and Ratings
Online reviews for PensionBee are excellent with customers pleased with the company’s fast response times and brilliant service levels, as well as the clear and easy-to-use app that allows quick, easy transfers.
Trust Pilot – 4.7/5 (based on 2933 reviews)
- Excellent customer reviews
- Low cost, flexible plans
- Personal customer support account managers, or “BeeKeepers”
- Switch plans, anytime
- Simple, hassle-free pension consolidation process
- Easy-to-use online dashboard and app
- Handy online pension calculator and online resources
- Award-winning: Online Business of the Year, SIPP Provider of the Year, Investment Marketing and Innovation 2019
- Regulated by the Financial Conduct Authority
- Pensions are managed by some of the world’s largest money managers – State Street Global Advisors, HSBC, BlackRock and Legal & General
- Financial advice not offered
- Some instances of slow, frustrating pension transfers
- Some complaints of poor communication and emails being ignored
- A relative newcomer to the industry compared to other well-established brands
- Offices and telephone lines not open on weekends