Pensionbee

steve.othen

Has anyone heard of PensionBee ?, & is using it or would recommended it ?, any advise / info would be gratefully received, as i am thinking of consolidating my pensions, & have heard they may be good.

beamyup

steve.othen wrote: »

Has anyone heard of PensionBee ?, & is using it or would recommended it ?, any advise / info would be gratefully received, as i am thinking of consolidating my pensions, & have heard they may be good.

Yes, I do recommend them.

They have simple and low charge fund options. Mine performed well.

The service to consolidate pensions is very good, they keep you informed, it is easy to use and mostly paperless, which I liked.

In my case, one of my pension providers (reassure) told them on the phone there was no charge for the transfer, but when the money arrived they had deducted about 3K pounds from it.
Pensionbee pushed them, then raised a complaint to the regulator which they won, then I got the money! all with no fee and no stress for me. I think that was great service.

I used them as a consolidation service then transferred over to a SIPP with ajbell later. again, no fee.

xylophone

as i am thinking of consolidating my pensions,

Do any of them have safeguarded benefits in excess of £30,000?

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/495377/pension-benefits-with-a-guarantee-factsheet-jan-2016.pdf

beamyup

xylophone wrote: »

Do any of them have safeguarded benefits in excess of £30,000?

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/495377/pension-benefits-with-a-guarantee-factsheet-jan-2016.pdf

Good point. Pensionbee will of course politely refuse to transfer such pensions. They will discover this during the transfer process and will not charge you anything anyway.

Nicosy

I found their service a pleasurable experience, they make things as easy as possible. Pretty simple to use and their documentation is well laid out.

Their pension calculator can be very optimistic when compared to other calculators though.

SonOf

Their pension calculator can be very optimistic when compared to other calculators though.

Unless under an advice process, the calculators used by product providers should be ultra-pessimistic as they are required to follow FCA guidelines.