£50 added to your pension

PensionBee is one of the most popular pension companies in the UK. They offer an easy to use mobile app (and website) where you can either open a new pension, or transfer existing pensions, and their experts will aim to grow your pension over time. When the time comes to retire, you can withdraw regularly easily too. The customer service is excellent, with a dedicated account manager, and the fees are low. 5 stars from us.

How to claim the deal

All you need to do is click the link above, and the deal will be automatically applied when you sign up. You must register there and then, although you can come back to finish setting up your account later on.

That’s it. When you’re all set up, you’ll get the bonus added to your pension.

Terms and conditions apply of course.

PensionBee fees

Overall PensionBee is low cost, with one simple annual fee. There’s no fees for opening a pension, moving or consolidating your existing pensions into PensionBee.

The only fee you’ll pay is one, low annual fee depending on which fund you choose. And this ranges from 0.50% to 0.95%, which is deducted from your pension automatically, so you don’t need to worry about actually paying it.

And better yet, if your pension is over £100,000, the fees halve for any money above that. Not too bad at all.

PensionBee pros and cons

Pros

• Very easy to set up and use
• Easy to understand pension plans
• Ethical investment plans
• They'll find all your pensions and move them over (consolidate)
• Low fees
• Great customer service
• Great for self-employed too
• Withdraw your pension as you like when you retire (drawdown)

Cons

• No financial advice
• Not much else!

Our thoughts

A company that’s made pensions super simple, has low fees, and a great choice of pension plans – plus awesome customer service. What’s not to love?!

PensionBee offers a good app (and website) to manage your pension, and give you up-to-date information on your pension whenever you want it, with the experts looking after the investments.

If you’ve got existing pensions, they do all the hard work to move your existing pensions over, and for free.

Or, simply start a new pension if you don’t have any pensions to transfer, it’s a great idea to boost your pension pot alongside a pension from work (or if you’re self-employed). Plus, you’ll automatically get a 25% government bonus every time you add more cash (and claim back more tax if you’re a higher earner).

The pension plans themselves are easy to understand, and offer a great range to suit pretty much everyone, whatever stage of life you’re at (including after retiring), and your personal preferences (such as ethical investing).

The plans are growing well over time too, as good as you could possibly hope for really. All managed by experts, and with large financial companies who know what they’re doing.

The fees are low, with one simple annual fee, ranging from 0.50% to 0.95% per year, depending on your pension plan, and these reduce by half if you have over £100,000 saved.

As a summary, PensionBee puts you back in control of your pension, allowing you to have your pension savings all in one place, making it easy to view and manage, and for one simple annual fee.

We’re not sure what else you could ask for from a pension company to be honest. It’s great. It’s a big 5 stars from us.

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