Pensionbee alternative?

RolandFlagg

I had two old company pensions totaling just under £20k. I transferred them to Pensionbee last year just to keep things simple.
Performance hasn't been great. I wondered if I could transfer from PB to somewhere better? Could I transfer the pot to Fundsmith?
Any other suggestions? Thanks.

grumiofoundation

If the provider you transfer to offers fundmsith you can. 

You say 'Performance hasn't been great' what benchmark are you comparing this to?  Is it the 'performance' due to PensionBee or due to the fund you are invested in?


This post would be better moved to the Pensions board. 

eskbanker

Fundsmith (a fund manager) isn't an alternative to PensionBee (a pension provider).

If you want to choose specific investments rather than using prepackaged plans from PensionBee then you'd need to transfer your pension to a provider than offers that self-selection capability, but you should do much more research first....

george4064

As others have pointed out, Fundsmith is not an alternative to PensionBee. It would be like saying; "I don't like Motorbikes, maybe I should consider BMW?".

Alternatives to PensionBee would be other pension providers (SIPP providers), you can read more about SIPP providers here: https://www.moneysavingexpert.com/savings/cheap-sipps/

You should be aware that when you say 'performance hasn't been great', you could always switch to a different product on the PensionBee platform (albeit limited selection). Alternatively you could switch your pension to one of the many SIPP providers (see link above) and chose from a much wider selection of investments.

Out of interest, which plan are you invested with at PensionBee?

dunstonh

I dont think you can call pensionbees performance good or bad.    They mostly use index trackers and you get the performance of the markets you invest in.      
I suspect your understanding of investments is the issue here.  i.e. you don't know how to measure what is good or bad and you are acting on bad assumptions.
So, why do you think it has not been good?   
Why do you think you can do better? (and do not rely on fashion investing - i.e. saw a fund mentioned in a newspaper...)

penners324

What fund are you invested in? Pension Bee offer 4 options I believe.