PensionBee is the UK’s leading "consolidator," famous for its mission to make pensions as easy to manage as a bank account. By combining old, fragmented pots into one online plan, PensionBee has become a household name for savers who want to take control of their retirement without the jargon.
In 2026, PensionBee is at the forefront of the "Pension Switch Guarantee" movement, campaigning to ensure that moving your money between providers takes days, not months.
If you are wondering whether PensionBee is the right option for your pension investments, get in touch below and one of our independent financial advisers will impartially review this for you.
Get 100% independent pensions advice today
Our independent financial advisers have a deep working relationship with pension providers across the UK, including PensionBee.
Whether you want to transfer your pension to PensionBee or have an existing pension with then that you want to get the most out of, we can help.
The IFA's we work with can provide independent advice about pension transfers, reviews, drawdown, annuities and much more. Book your free initial consultation with them below:
PensionBee Products: The Managed Plans
PensionBee doesn't ask you to pick individual stocks. Instead, you choose from a range of professionally managed plans provided by global giants like BlackRock, State Street, and HSBC.
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Tracker Plan: A low-cost option (0.50% fee) that follows global markets.
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Tailored Plan: The most popular choice; it automatically adjusts your investment mix as you age, de-risking your pot as you approach retirement.
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Fossil Fuel Free Plan: One of the UK's first mainstream plans to completely exclude companies with fossil fuel reserves or those involved in the tobacco industry.
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Sharia Plan: 100% Sharia-compliant investments, managed by HSBC.
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Preserve Plan: Designed to reduce risk by investing in creditworthy companies, ideal if you plan to access your money very soon.
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4Plus Plan: Aimed at achieving a long-term growth of 4% above the cash rate, often used for sustainable drawdown.
Putting a Pension into Drawdown with PensionBee
PensionBee has refined its "BeeHive" portal to make Flexi-Access Drawdown as straightforward as possible.
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Regular Withdrawals: In late 2025, PensionBee launched an automated "Regular Withdrawals" feature. You can set a specific date and amount to land in your bank account every month, effectively creating your own "salary" in retirement.
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No Withdrawal Fees: Unlike many traditional providers, PensionBee does not charge a fee for taking your money out (unless you withdraw your entire pot within 12 months of joining, which incurs a £150 fee).
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Investment Pathways: If you're over 55 (rising to 57 in 2028), PensionBee offers four "Pathways" to help you choose a plan based on your 5-year goal (e.g., "I plan to buy an annuity" or "I want to take a long-term income").
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Annuities: They have a partnership with Legal & General, allowing you to easily swap part or all of your pot for a guaranteed income for life.
The "BeeKeeper" and Consolidation
The standout feature of PensionBee is the BeeKeeper—your dedicated UK-based account manager.
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Tracking Service: You don't need all your old policy numbers. If you provide the name of your old employer or provider, your BeeKeeper will do the "detective work" to find and transfer the funds.
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Transfer Speed: PensionBee uses the electronic Origo network. In early 2026, their campaign for a 10-day Pension Switch Guarantee reached a turning point, with the government responding to their petition to mandate faster digital transfers across the industry.
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Safeguards: If your old pension has exit fees over £10 or valuable "Guaranteed Annuity Rates," your BeeKeeper is required to flag this to you before the transfer proceeds.
Pros, Cons, and Customer Reviews (2026)
The Pros
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Tiered Fee Discount: Fees range from 0.50% to 0.95%, but PensionBee halves the fee on any portion of your savings over £100,000.
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Consolidation King: Exceptional at finding lost pots and moving them quickly.
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Transparency: You see your real-time balance 24/7 on the app.
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User Support: High-quality human support (the BeeKeeper) alongside a digital-first app.
The Cons
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No DIY Trading: You cannot buy individual shares or niche ETFs; you are restricted to their pre-set plans.
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Full Withdrawal Fee: The £150 fee for full withdrawals within the first year can be a sting for those who change their mind quickly.
What Customers are Saying
"The process of moving my NEST pension took about two weeks. It's a breath of fresh air compared to the paperwork I'm used to." — Trustpilot Review, Jan 2026
"I love the app interface, but I wish I could pick a few of my own stocks. For my main retirement pot, though, the managed Fossil Fuel Free plan gives me peace of mind." — Smart Money People, Dec 2025
How Our IFA Service Can Help
While PensionBee is excellent for "hands-off" consolidation, it doesn't offer bespoke financial advice. At Money Helpdesk, we connect you with Independent Financial Advisers (IFAs) who can provide the formal recommendation you may need.
Our IFA service helps you by:
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Fee Math: We calculate if PensionBee’s percentage fee (halved over £100k) is actually cheaper for you than a flat-fee provider like Interactive Investor.
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Complex Benefits Audit: We perform a deeper dive into old Defined Benefit or high-guarantee schemes to ensure you aren't losing thousands by moving them to a "simple" plan.
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Tax Planning: Maximising your £60,000 annual allowance in the 2026/27 tax year.
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Drawdown Sustainability: Using cashflow modeling to prove that your "Regular Withdrawal" amount won't exhaust your pot too early.
Get started here to book a free, no-obligation chat with an IFA who can offer impartial advice about whether Nutmeg is the right solution for your pension needs.