as of 23/01/2019 at 2:21 pm
Once PensionBee has aggregated all your pensions into one single pot (or 'hive'?) then your money will be invested in one of their three plan options. These are all funds managed by global giants State Street, BlackRock, and Legal & General.
The State Street option is a low-cost tracker fund which invests into major global markets. The BlackRock 'tailored' option is what's known as a target date fund - the idea being that the closer you get to retirement, the more they dial down the riskier assets such as shares, to avoid any sharp falls just before you might want to cash your investments in. And the L&G option is a climate-conscious plan which invests in nearly 2,000 shares from around the world, picking those with low carbon impact and also excluding controversial weapons.
Costs range from 0.5% a year to 0.95% a year depending on the investment pick you make.
Small start-up but has some big friends under the bonnet
£0 minimum investment
|12 month indicative performance:||
Ranges from 6.9% to 8.9% for the 12 months to June 2018
"I’m new to investing and in my late 30's. I'm actually stuck in a dilemma whether to invest using DIY platforms like Interactive Investor, A J Bell or Hargreaves Lansdown OR invest using robo advisors like Nutmeg, Moneyfarm or Pensionbee. I have compared the fees and they are not significantly different. Do robo advisers have a better return rate? I can dedicate some time to DIY investing but not a significant amount of time. Please advise. Thank you."
Victor , Kent
14/01/2019Read our reply