PensionBee fees are mainly an annual charge of 0.50% to 0.95%, set by your plan, its fees page says, and halved on any part of a pot above £100,000.
That is what PensionBee says it charges, as its fees page stood on 26 October 2026. How much of it lands on your pot depends on the plan and on your balance, and an FCA-authorised adviser can apply it to your situation, free, after you send your name and number via this page's short form. The rest of this page sets out what PensionBee publishes about its charges, plan by plan, and what sits outside the fee. For typical charges across all providers, see pension charges and fees.
How much does PensionBee charge each year?
PensionBee says that joining is free and that it charges "a simple annual fee to manage your pension, depending on how much you’ve saved into your pension". The rate depends on the plan, and the fee is "halved on the portion of your pot over £100,000". Its fees page shows the overall percentage at four pot sizes:
| Plan | Under £100,000 | £250,000 | £500k | £1 million |
|---|---|---|---|---|
| Global Leaders | 0.70% | 0.49% | 0.42% | 0.39% |
| 4Plus | 0.85% | 0.60% | 0.51% | 0.47% |
| Tracker | 0.50% | 0.35% | 0.30% | 0.28% |
| Climate | 0.75% | 0.53% | 0.45% | 0.41% |
| Shariah | 0.95% | 0.67% | 0.57% | 0.52% |
| Preserve | 0.50% | 0.35% | 0.30% | 0.28% |
PensionBee's worked example is a £250,000 pot in the Global Leaders plan: 0.70% on the first £100,000 and 0.35% on the other £150,000, which it gives as an overall annual fee of 0.49%. The fee is "calculated based on the daily value of your PensionBee plan", and the account is charged each month. What each plan holds and how the plans differ is covered in which PensionBee plan is best.
What does the annual fee include?
PensionBee describes its charge as one fee that "covers everything including transferring your pensions, switching plans, contributing to or withdrawing from your pension". It also says it does not add "platform fees, fund fees or trading fees" on top. Its pages describe the money managers for the plans as BlackRock, State Street and HSBC.
The fee is not the whole of the cost, and PensionBee says so itself. Transaction costs "arise when your money manager buys or sells investments to maintain your plan". They are, in its words, "separate from your annual management fee", and PensionBee says it makes no money from them. PensionBee calls them "very small". What they come to on your own plan is for an adviser to talk through on a free call after you submit your details through this page.
Are there transfer-in, switching or exit charges?
On moving a pension in, PensionBee's fees page says: "We don’t charge you any fees for transferring your pensions to us." That is about PensionBee's own charge. Your old provider may have its own terms, and PensionBee says that if it finds exit fees over £10 or certain special benefits on a pension, it will ask you to confirm you want to go ahead. It adds that a pension with certain special benefits worth more than £30,000 needs a positive recommendation from an independent financial adviser before it can be transferred to PensionBee.
Leaving is covered in the same place: "There’s no exit fee if you leave PensionBee at any point." If you cancel within 30 days of opening your plan, PensionBee says it will return your pensions to your old providers, assuming they are willing to take them back, free of charge.
Switching plans carries no PensionBee fee, though PensionBee says plan switches carry small transaction costs, known as an "anti-dilution levy", which depend on fund spreads on the day of the switch and from which it makes no money. Where your own switch or transfer is complicated, an adviser can explain how it would work on a free call-back.
Is there a fee for taking money out?
PensionBee says drawing down from your pension is "completely free", with one exception. The exception is a full withdrawal in the first year: if you take out everything within 12 months of first having a live balance with PensionBee, a £150 full withdrawal fee applies, including where the pot is worth less than £150 at that point. The page adds that all figures include VAT where applicable. If you withdraw in full, switch or transfer out, you are charged only a proportion of the annual fee up to the point your request is completed. Withdrawals are available from 55, rising to 57 from 2028, as PensionBee words it.
Money taken out can also be taxed, which is a separate matter from PensionBee's charges; pension drawdown explains how the options differ.
More on what PensionBee charges
Is PensionBee free to use?
Joining is free, according to PensionBee, but the annual fee is charged monthly once you have a plan. The rate is between 0.50% and 0.95% a year depending on the plan.
Does PensionBee charge SIPP fees?
Asked whether it is a SIPP, PensionBee's FAQ says it "offers a personal pension that allows you to select your own investment plan from our range of diverse and curated plans". The fees for that are the plan fees above. For how SIPPs work, see what a SIPP is.
Can I work out my PensionBee fee myself?
PensionBee's fees page carries its own Fee Calculator, which asks for a plan and an estimated pot value. The table above gives the same overall rates at four pot sizes.
Does PensionBee charge commission?
The charges PensionBee's fees page lists are the annual management fee and the £150 fee for a full withdrawal in the first year. Transaction costs inside the plans are separate, and PensionBee says it makes no money from them.
Are PensionBee's fees high?
Whether a rate is high depends on the plan, the size of the pot and what else you could use. This page does not rank providers; PensionBee compared with Moneybox and others sets some side by side, and is PensionBee good looks at the wider question.
Checking the fee against your own pot
Pension values can fall as well as rise, and you may get back less than you paid in; a fee comes out whichever way the market moves. If you want to see what these rates would mean for your own pots, or whether a transfer would carry costs from your old provider, an adviser will ring you back, at no cost, once your details reach the quick form on this page.
Source: PensionBee Ltd, fees page and FAQ (https://www.pensionbee.com/uk/fees and https://www.pensionbee.com/uk/faq), read 26 October 2026. PensionBee is authorised and regulated by the FCA, reference 744931, as its footer states.