Important: With investment, your capital is at risk. Pensions can go down in value as well as up, so you could get back less than you invest.
Start financing your retirement from 55
From the age of 55 you can start making pension withdrawals, and you can take up to 25% totally tax-free. Anything over this will incur a tax charge, but our handy calculator inside the BeeHive will tell you how much this could be.
- Tax-free allowance: 25%
- Taxable income: 75%
Make withdrawals in a few simple steps
Our drawdown option gets activated as soon as you hit your 55th birthday. From then on it’s just a case of visiting your BeeHive, answering some simple questions and passing an ID check. Paying out your money typically takes around two to three weeks.
Put more money in your pocket
Unlike other providers we won’t charge you excessive fees. There’s no drawdown costs unless you transfer to us and take your whole pot within 12 months.**If your pot has been with PensionBee for less than a year, then a full withdrawal of your pension will cost £400 (+ VAT).