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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
c.300k

Invested Customers

4.6

Out of 5 on Trustpilot

£7bn

Assets Under Administration

c.300k

Invested Customers

4.6

Out of 5 on Trustpilot

£7bn

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
number 2

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. 12,543 customer reviews

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

Pat

PensionBee a most use pension app

The quick and efficient process through the transfers, what I've been trying to achieve in 12months, I was able to achieve it in less than a month. Wow...... Thanks PensionBee

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Simon

Quick and easy

Quick and easy - breath of fresh air for a financial services company - many could learn from these guys! Processes were smooth and there was communication from my Bee Keeper at every stage keeping me clearly informed of progress. App straight forward to use.

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marcus l

so far so good for the first few months…

so far so good for the first few months I saw increases in my pension seen a few decreases since but it’s never gone below what I’ve put in so far

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Stephen Kidney

Fuss free pension.

I wanted a fuss free way of consolidating my pensions and you seem to have done it in less than two weeks, with minimal effort from me. I also want a pension that I do not have to manage myself but at the same time I could easily monitor and your app allows me to do that. All good so far.

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Marianne Thomas

Very easy to set up & switch

Very easy to set up & switch. They only needed the names of my other pension providers, so I didn't have to go digging through paperwork

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Munyaradzi Makuwaza

Great way to plan for the future and…

Great way to plan for the future and its really easy to transfer and move from one to the other.

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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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