Does PensionBee give financial advice?

PensionBee financial advice does not exist: it says it provides none, so a transfer decision is yours. Here is what it does offer and where to turn.

If you are asking about PensionBee financial advice because you want someone to say whether moving your pension is wise, PensionBee is not that someone. Its terms and conditions (last edited 07-01-2026) say plainly: "PensionBee does not provide advisory services." An adviser can weigh your whole position where PensionBee will not; the form on this page organises a callback from an FCA-authorised one, at no charge. Reviews and charges sit elsewhere: see is PensionBee good and PensionBee fees.

What does PensionBee do instead of giving advice?

PensionBee offers a defined contribution personal pension and lets you pick from its plans. It says: "PensionBee doesn't provide financial advice or recommendations." On choosing a plan it goes further: "Remember, PensionBee's an execution-only service, which means we don't provide financial advice and can't advise you on which plan to pick." In practice, that means it carries out the instructions you give it. Which plan is the better fit is a question for which PensionBee plan is best, or for an adviser.

One more point catches people out. PensionBee says it is an execution-only provider and "We don't support adviser charging." That means an adviser's fee cannot come out of your PensionBee pot; it would have to be paid another way.

What you do get is support. Each customer has a dedicated account manager, called a BeeKeeper, who PensionBee says "will guide you every step of the way" and will be on hand to help with anything you need. Guiding is not advising: with no recommendations on offer, a BeeKeeper will not tell you whether a particular move suits you. The site also offers a Pension Calculator and a Pension Drawdown Calculator, which give estimates.

Can you transfer a defined benefit pension into PensionBee?

Sometimes, but only with advice first. PensionBee says: "If you have a pension with guaranteed benefits over £30,000, you're required to take financial advice from a FCA-regulated Independent Financial Adviser (IFA) before you transfer it." Guarantees of this kind include final salary promises and guaranteed annuity rates. It adds that a Pension Transfer Specialist has to have given or checked that advice before it will go ahead, and that "PensionBee doesn't provide financial advice and you'll need to find a Pension Transfer Specialist yourself."

It also says that if you are advised against transferring, it will not accept the transfer, and that the government does not allow the transfer of unfunded government schemes, naming those of the NHS, teachers, the army, police and firefighters. Our final salary pension guide explains what these pensions promise.

The FCA's stance is cautious. It says: "The FCA and The Pensions Regulator (TPR) believe it's in most people's best interests to keep their DB pension." Giving up a defined benefit pension means giving up a guaranteed income, so nothing here is a nudge to move one.

When might you need regulated advice?

The legal trigger concerns safeguarded benefits, not a pot's size. For a scheme with them, the check on advice is not needed if the transfer value is £30,000 or less. The regulation says trustees or managers "are not required to carry out the check in section 48(1) of the Act if the transfer value of the member's or survivor's subsisting rights in respect of safeguarded benefits under the pension scheme is £30,000 or less on the valuation date." Above that, advice is required before a transfer. When advice is legally required before a transfer covers this in depth, and pension transfer specialists explains who may give it.

Below that threshold, the FCA's page on defined benefit transfers still says: "You should get financial advice if you're considering a transfer." PensionBee itself, before a withdrawal, asks you to confirm you "have considered taking advice". How you might take money from a PensionBee plan is set out in how to withdraw from PensionBee.

Whether advice would earn its fee depends on your own mix of pensions, tax position and plans, which is worth talking through, and an enquiry sent today brings a no-charge call from an adviser; pension advice cost shows how fees are usually charged.

Where can you get free guidance instead?

PensionBee points to the same places. On finding an adviser it says: "Visit Unbiased to find an IFA or MoneyHelper for free guidance." On tax and drawdown it says MoneyHelper and Pension Wise offer free impartial guidance. A guide to other free routes is at free pension advice and guidance, and moving a pension in general is in pension transfer guidance.

Guidance is not advice. It explains your options but does not tell you what to do. For a defined contribution pension such as PensionBee's, a free Pension Wise appointment is the main route: MoneyHelper says it "explains the options for taking money from your defined contribution pension. It's impartial and backed by government." The pot's size does not decide eligibility. See what Pension Wise is for who qualifies.

How do you find an adviser and avoid scams?

Start by checking any firm on the FCA register before you share details, and read how to find a pension adviser. The FCA warns: "If you're contacted unexpectedly and offered a free pension review, it's likely to be a scam. Professional advice on pensions is not free." It also tells DB scheme members: "Don't talk to companies who contact you out of the blue offering to talk about your pension options." Pension scams lists the other warning signs.

Your adviser can ask PensionBee for information. PensionBee says it will give information to FCA-regulated advisers in response to a valid Letter of Authority, though it cannot support an ongoing third party or guarantee its service will be the same. Unsure whether paying for advice makes sense with pensions like yours? Pop your details into the enquiry form on this page; a regulated adviser, authorised by the FCA, will phone, with nothing to pay for that call.

Quick answers on PensionBee and advice

Can I speak to a PensionBee adviser?

PensionBee says it does not provide financial advice, so a call to PensionBee will not get you a recommendation. Your BeeKeeper helps with your account, and for advice you need an FCA-regulated adviser of your own.

Can I cancel a pension transfer to PensionBee?

PensionBee says you can cancel any individual pension that has not started transferring, through your online account. It adds that it will send a pension back to your provider for up to 30 days after the transfer, as long as that provider agrees to accept it. Leaving afterwards is covered in how to transfer out of PensionBee.

Does PensionBee help me find old pensions?

Tracing is a separate question, answered in can PensionBee find my pensions.

Is a PensionBee advisor the same as a BeeKeeper?

No. PensionBee defines a BeeKeeper as the customer's dedicated account manager. It says it provides no financial advice, so a BeeKeeper is not an advisor in the regulated sense.