PensionBee - opinions?

carpy

What do people think of PensionBee?
Their fees look very reasonable and the website is very nice to use.
For someone wanting an uncomplicated investment with only a few different portfolios to choose from.
Thoughts?

Swipe

Charges are fairly reasonable but looks like they have very limited options in terms of available plans

Yellow_mango

The fees were significantly higher than those for my current company pension plan. 

carpy

Yellow_mango said:

The fees were significantly higher than those for my current company pension plan. 

what are they?

Albermarle

carpy said:

Yellow_mango said:

The fees were significantly higher than those for my current company pension plan. 

what are they?

Some workplace pensions , especially if the company is large , have heavily discounted fees and some very low cost funds.
I am holding a multi asset fund with one for a total cost of 0.26% . However this would be the lowest I have and not typical . Something like 0.35% to 0.7% would be typical for a workplace pension invested in the default fund. In this case Pension Bee looks competitive for a retail/individual pension, especially if you have over £100K in it .As long as the funds perform as expected of course. 

carpy

Albermarle said:

carpy said:

Yellow_mango said:

The fees were significantly higher than those for my current company pension plan. 

what are they?

Some workplace pensions , especially if the company is large , have heavily discounted fees and some very low cost funds.
I am holding a multi asset fund with one for a total cost of 0.26% . However this would be the lowest I have and not typical . Something like 0.35% to 0.7% would be typical for a workplace pension invested in the default fund. In this case Pension Bee looks competitive for a retail/individual pension, especially if you have over £100K in it .As long as the funds perform as expected of course. 

yes, i have an ex company one that is 0.39% but also a further 2 ex company ones that are looking expensive at 1.15% and 0.97%

Albermarle

yes, i have an ex company one that is 0.39% but also a further 2 ex company ones that are looking expensive at 1.15% and 0.97%

Are you sure they are not expensive , just because the funds they are in are expensive? Maybe a switch to cheaper funds would help?

Also there is an option to consolidate into one of the x employer pensions rather than opening a new one .

dunstonh

higher cost does not necessarily mean you should change.
You can get cheap retail pensions in the 0.3x% range now but it doesn't make them better than something cost say 0.9%.    However, if the investment costing 0.9% is only using underlying passive funds then 0.9% is expensive.

Yellow_mango

carpy said:

Yellow_mango said:

The fees were significantly higher than those for my current company pension plan. 

what are they?

My company pension has a discounted rate of 0.177%. It would be crazy for me to go elsewhere. 

That’s for a (range of) standard tracker funds. Which I’m happy with at the moment. 

carpy

Yellow_mango said:

carpy said:

Yellow_mango said:

The fees were significantly higher than those for my current company pension plan. 

what are they?

My company pension has a discounted rate of 0.177%. It would be crazy for me to go elsewhere. 

That’s for a (range of) standard tracker funds. Which I’m happy with at the moment. 

Wow that is low!!

penners324

I've been using Pension Bee for a year or so and have rolled all my old pensions into it.
Easy to use, limited range of funds (though doubt 95% of people want more than what they offer). 
Very easy to view your current fund balance, make contributions (either 1 offs or regular).

I would recommend