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Pension withdrawal

Access your pension online, from the age of 55 (57 from 2028).

Phones with withdrawal feature on app
Phones with withdrawal feature on app
Phones with withdrawal feature on app
275k

Invested Customers

4.6

Out of 5 on Trustpilot

£6bn

Assets Under Administration

275k

Invested Customers

4.6

Out of 5 on Trustpilot

£6bn

Assets Under Administration

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.

PensionBee mobile phone
number one

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 your tax-free lump sum allowances and the annual allowance for pension contributions, should also be simpler.

4Plus plan
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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 - 4Plus, Tracker and Preserve.

Tax free cash and withdrawals screen
number three

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 provide you with two options to access your pension funds. You can take your pension flexibly online with the option for withdrawals through PensionBee drawdown. Or you can choose to purchase a pension annuity through our partner, Legal & General.

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 how you can access your pension including how to withdraw gradually via drawdown and buying an annuity. Learn more about your options and find out how you can use these different methods together.

Excellent. 11,967 customer reviews

5%
1 star
2%
2 stars
2%
3 stars
10%
4 stars
81%
5 stars

Nicola O'Carroll

Pension…

From applying to PensionBee to setting up my pension has been straight forward with updates regularly.

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Susan Westwood

Pension Bee easy transfer

Keep you informed every step of the way explain if you had protected rights and willing to proceed. After all that then funds asked for and all done

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Tricky

So far so good

So far so good. Half way thru transfer process. Sign up was slightly trickier than I expected as I have lots of products. One electronic form was hard to fill in but that was the fault of my old provider not pension bee. Support has been very good from pension bee so far. Transfer can take many weeks but that again is due to your old provider having older paper based systems. Will see how we go from here. But looking forward to pension that’s easier to manage. R

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Susan Gordon

Pension 🐝 excellent

Easy transfer and kept up to date every step of the way

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Mark

Very easy to use

Very easy to use

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Colin

Fast transfer

You madeit quick and easy for me to switch over to you. Thankyou

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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 a few minutes to sign up.

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