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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
260k

Invested Customers

4.7

Out of 5 on Trustpilot

£5.5bn

Assets Under Administration

260k

Invested Customers

4.7

Out of 5 on Trustpilot

£5.5bn

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
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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.

Mobile 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 - Tracker, 4Plus and Preserve.

Tax free cash and withdrawals screen
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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.

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. 11,418 customer reviews

4%
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5 stars

Jonathan Brooks

Going back for more

Just great in every way. The transfer was easy and from there it’s just been upwards all the way. Beekeeper was fab, and withdrawal such a simple process. Top notch

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Caroline

Long time listener, first time engagement

Well, it has taken a ridiculously long time for me to sort out my pensions (fear and procrastination) but Pension Bee helped me navigate the whole process- pulling in the disparate ones that I had practically forgotten and advising me about the others. I feel far more in control.

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Roozbeh Golpaygani

PensionBee - A Reliable Pension Consolidation Service

PensionBee has proven to be a solid choice for consolidating pensions into one manageable pot. The platform is user-friendly and intuitive, making it easy to track and manage your pension savings in one place. The app is especially helpful, providing clear updates and projections for your retirement savings. One of the standout features is the transparency in fees and the simplicity of their plans. It’s refreshing to deal with a provider that makes the often-complicated pension process much more accessible and understandable. Their customer service is also commendable—responsive and always ready to help with any queries or concerns. However, the one area where PensionBee could improve is the speed of transferring pensions from previous providers. While some delays might be due to external factors, the process occasionally feels slower than expected, which can be frustrating. Overall, PensionBee offers a reliable and efficient service that makes managing pensions far less daunting. I highly recommend it for anyone looking to simplify their pension savings, but there’s room for improvement in terms of processing speed. 4 out of 5 stars.

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ray flanagan

So far so good.

I found it very easy and straightforward to join and staff very helpful.

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Peter Brown

A first class service from beginning to…

A first class service from beginning to the end. Pension taken out to be used and so therefore account no longer needed.

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Deb

A friend referred me to Pensionbee

A friend referred me to Pensionbee. Easy to transfer all my pots into one and makes it so much easier. The online process is quick and simple and the helpline staff are polite, courteous and knowledgeable. 5 Star Rating

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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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