“PensionBee reports providers to DWP alleging transfer rules abuse”

Jul 6, 2022 | In the news

If we advise you to transfer or ‘consolidate’ your pension, there has to be a good reason. Yes, sometimes it’s more expensive and we’ll charge for sorting it out, but you’ll know what you’re doing and why. Hopefully. ‘PensionBee is non-advisory, so we don’t give pension advice or offer personal recommendations to customers. Instead, we can provide you with information about our service so that you can make up your own mind about whether PensionBee is right for you’. They’re complaining about how long other pension providers are taking to hand over clients’ funds to them. The pension providers say they need to make sure clients know what’s what. Quite rightly. There will, I’d say (and, yes, I’ve used this one before) be a sting in various tails before the honey comes out of the hive.

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