At PensionBee we’re strong believers in fair fees and transparency. That’s why we release our Robin Hood Index every year, and continue to press the industry for change. Where others charge you hidden costs we’ll only charge you one annual fee, so you’re always clear on what you’re paying and what this means for your pension.
As we’ve grown, we’ve seen savers’ pots grow significantly, and we want these customers to feel comfortable that we’re the right place for their pension. We think you should be rewarded for saving - not hit with a higher fee - so we’re changing our fee structure to offer an affordable pension for all. Here’s how it works.
The more you save, the less you pay
For pensions under £100,000 you’ll continue to pay 0.5% - 0.95%. However, once your pension grows larger than £100,000, we’ll halve the fee on the portion of your savings over this amount.
We’re introducing this new structure to give the most diligent savers a fairer fee, and to put more money in the pocket of customers nearing drawdown. We’re committed to giving you a good retirement and our fees are essential to that, as well as our dedication to transparency. Head over to our fees page to see exactly how the new fee structure could impact on what you pay.
Tell us what else you’d like to see
Like all of our product updates, this new fee structure was driven by your feedback so keep on telling us what else would improve your pension. We’ve just launched a new direct debit feature to make contributing easier, and we’re planning on starting work on our app early next year. We’re serious about making pensions simple, so don’t be shy - leave your feedback in the comments section!