PensionBee

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When is a SIPP not really a SIPP? PensionBee offers a simple and modern approach to managing your pensions. Their "SIPP" is designed to make it easy to combine old pensions into one new plan, with a focus on user-friendliness and transparent fees. They offer a range of "plans" with different investment strategies to suit various risk appetites and ethical preferences. The heavy-advertisers are really known for their pension consolidation service rather than being an investing platform. So whilst consolidating pensions isn't unique to them, it is front and centre of their offering.

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Key Features:

• Investment options: PensionBee offers a curated selection of investment plans with different risk levels and themes, such as fossil fuel free and Shariah-compliant options. Each plan invests in a diversified portfolio of funds managed by established providers like BlackRock and Legal & General.

• Fees: PensionBee has a tiered fee structure, meaning the annual percentage fee you pay decreases as your pension pot grows. They also offer a fixed-fee option. Their fee structure is transparent and easy to understand.

• Platform usability: PensionBee's platform is designed with simplicity and ease of use in mind. It's modern, intuitive, and accessible via their website and mobile app. You can easily track your pension's performance, make contributions, and manage your account.

• Customer service: PensionBee provides customer support through phone, email, and live chat. They are generally known for their helpful and friendly customer service team.

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Unique Selling Points:

• Pension consolidation: Easily combine your old pensions into one new PensionBee plan.

• Simple plan choices: Choose from a range of plans with clear investment strategies and risk levels.

• Fossil fuel free and ethical options: Invest in line with your values through their socially responsible plans.

• User-friendly platform: Manage your SIPP effortlessly online or through their mobile app.

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Target Audience:

• Those with multiple pensions: Ideal for people who want to consolidate their old pensions into one easy-to-manage plan.

• Hands-off investors: Those who prefer a simplified approach with curated investment plans.

• Beginners: PensionBee's user-friendly platform and clear plan choices make it suitable for those new to pensions.

• Socially responsible investors: Those who want their pension investments to align with their ethical values.

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Pros:

• Easy pension consolidation: Simplify your retirement savings by combining old pensions.

• Simple and transparent: Clear plan choices and a straightforward fee structure.

• User-friendly platform: Manage your SIPP with ease.

• Socially responsible options: Invest in plans that consider environmental and social factors.

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Cons:

• Limited investment choice: You can't choose individual investments outside of their pre-selected plans.

• Fees: While competitive, the fees can be higher than some basic, low-cost SIPP providers.

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Overall:

PensionBee's SIPP offers a convenient and user-friendly way to manage your retirement savings. It's a great choice for those who want to consolidate old pensions, prefer a simplified investment approach, and value a modern, intuitive platform.