Explore our Pensions Explained centre
Pension withdrawal
Access your pension online, from the age of 55 (57 from 2028).
When the time comes to start withdrawing your pension it should be simple and stress-free. Here’s how PensionBee can help make it easy.
Combine your old pensions online
Firstly, we’ll help you take control of your old pensions by switching them into a brand new PensionBee plan, managed by one of the world's biggest money managers for one simple annual fee - you’ll pay between 0.50% and 0.95% depending on the plan you choose, and we'll halve the fee on the portion of your savings over £100,000.
You get one simple pension, so you’ll no longer need to update all of your providers every time you make a withdrawal. Keeping track of your tax limits, like the lifetime allowance and the money purchase annual allowance, should also be simpler.
Pick a plan to suit your retirement needs
Ready to start withdrawing your pension? Then it's important to ensure that you're in a plan that matches your retirement objectives.
You can make withdrawals from all of our plans but we offer three designed specifically for retirement - Tracker, 4Plus and Preserve.
Start withdrawing flexibly with PensionBee, or purchase an annuity
As soon as you reach the age of 55 (set to increase to 57 in 2028) we’ll give you two ways to withdraw money from your pension. You can either take your pension flexibly online through PensionBee drawdown, or you can buy a pension annuity through our partner, Legal & General.
More about drawdown
More on buying an annuity
Tools to help you plan your retirement
We understand that choosing how and when you take your pension is a big decision. That’s why we’ve created articles, video explainers and a drawdown calculator to help you shape the retirement you want. And as always, our UK-based team is also on hand, if you have any questions.
Watch our Pensions 101 videos
Find out the benefits of accessing your pension gradually via drawdown and buying an annuity which provides a guaranteed income for the rest of your life or for a fixed number of years. Learn how these two products compare on flexibility, inheritance and tax.
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Put your pension in the palm of your hand
Transfer your old pensions into a new online plan. It takes just 5 minutes to sign up.