Should I use pensionbee

Malthusian

NannaH said:

Nowhere does in this thread it mention other pensions. OP states he has TWO pensions, so I am going off the only information given and have answered the actual bloody question thank you very much 🙄

The actual question was "Should I move my pensions to PensionBee before I cash them in". And making bold statements like "Cash in your pensions because they'll be a curse due to withdrawal of means-tested benefits" is risky when the information given is scanty. A risk that you took and lost, given that it turned out with some poststalking that the OP has a DB pension with 11 years service, which means the OP could easily be ineligible for means tested benefits even if he blows his £31.5k.

A £31,500 pension fund could provide an income of around £100 per month for life. That might not sound like a lot to most of us, but it's the difference between being able to go to the pub a couple of times a week, or not. Or any number of small luxuries that would noticeably improve life for an older person living on a small pension, forever, as an alternative to blowing all the money at once.

@OP: To answer your question, 2x transfers + 1x cashing-in is more faff than 2x cashings-in, so there doesn't seem to be much point transferring the pensions to PensionBee for that reason. Unless the Prudential pension doesn't allow the option to cash in.

Nurse2047

I used PensionBee to consolidate small non nhs pensions and I am really happy with them.  Yes there is cheaper out there but I have a small pot so won’t make a huge impact. I like the app and the fossil free fund, does the work for you.