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PensionBee Review

as of 05/11/2018 at 11:48 am

Holly's View

A nice new option for those who are conscious that they have small pensions lying around the place and need to join them up in one place. Digitally smart and well thought-through. An interesting pensions service which helps round up all those smaller pension amounts you have left in your wake. Still small but with really committed cheerful people to look after you, service is great and the website nice to use. Investment choices are limited but this will suit people who want ease, convenience and visibility of what’s in their pension. Talks in plain English too.

Our Rating

Recommended For

Beginner Investor

In a nutshell

Brings pensions together

Nice digital service

Limited investment

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Your overall rating

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What to Expect

Investment Choice

Products

Pension

Investments available

Funds from other groups

Ethical investments

Investment help

Robo advice / ready-made portfolios

The 'Geeky' Details

Provider details

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.

Important Facts & Figures

Provider Size:

Small start-up but has some big friends under the bonnet

Minimum amounts:
£0 minimum investment
12 month indicative performance:

Ranges from 6.9% to 8.9% for the 12 months to June 2018