PensionBee - PBEE - Share Chat

The idea to transfer your old pensions into a single pot does not come from PensionBee and people have not waited for them to do so. It’s just common sense to transfer your past employer’s pension when you leave them to minimise charges, rationalise management and the admin. I’ve now transferred 3 ex-employers’ group pensions into my SIPP and did it before PensionBee even existed. I also did it every time I left an employer.

PensionBee launched using this marketing ploy, as if pension transfers and consolidation had not existed, to make people think that PensionBee had invented it. However, it was around the time watchdogs were complaining about pension managers distributing to their own shareholders the orphan assets running in the billions of many people (millions) having forgotten their ex-employers pensions or their heirs not knowing of the existence of such assets. Thus, they leveraged.the marketing push and free publicity from authorities trying to encourage people to consolidate their pensions.

According to what I can read above, PensionBee seems very limited in their offering and mainly for the unsophisticated. They must have automated the process in a quite user-friendly way and :freetrade: should learn from them when designing their pension transfer UI/UX once SIPPs are live.

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