Sign up Frequently Asked Questions About the PensionBee service What does PensionBee do? Why should I consolidate my pensions with PensionBee? Is it ever better to leave my pensions where they are? What if there are exit fees or guaranteed benefits? How much does it cost to use PensionBee and how does this compare to other providers? Is there an exit fee to leave PensionBee? What if I’m currently in a plan that my employer pays into? Can my employer pay into my pension? Can I change my mind about any (or all) of my pensions? Can I open a new pension without transferring old pensions in? Do I have to do anything before signing up to PensionBee? Is there anything else I have to do? Can I use PensionBee as a dashboard for my existing pensions? Is PensionBee a dashboard? Is PensionBee a SIPP? Do I have to transfer all of my pensions to PensionBee? Do I have to provide any ID to open a PensionBee account? Do I have to fill out any forms to sign up with PensionBee? What do I have to do if I’ve changed my name? Who is eligible to be a PensionBee customer? About locating and transferring pensions How do you locate and transfer my pension? How long will it take to locate and transfer my pension? Do I have to sign anything? What happens if I only have a pension that’s being paid into by my employer? Can PensionBee trace my pension for me? About transferring a specific type of pension Can I transfer a public service pension (NHS, police force, army, etc)? Can I transfer a defined benefit pension to PensionBee? Can I transfer a pension that I’m already accessing? Can I transfer an international pension to PensionBee? About the PensionBee plans and fees What is the PensionBee investment philosophy? Where can I learn more about the plans? What are the risks of investing my money in a PensionBee plan? Does PensionBee charge a fee to change my plan? Is my pension protected by the Financial Services Compensation Scheme? About contributions How do I make a contribution? How long does it take? Are there any tax advantages to making contributions? I have my own business, do I make a personal or limited company contribution? Are there any charges for setting up contributions? Are there any minimum contribution amounts? How do I amend or cancel my regular contribution? I have a joint bank account. Can I still set up a Direct Debit? What kind of personal contributions does PensionBee accept? Am I eligible for tax relief on my contributions? How much tax do you pay inside IR35 on pension contributions? About drawdown How do I drawdown from my pension? How long does it take to receive my money? How much does drawdown with PensionBee cost? How much tax will I pay? How can I get back emergency tax? Can I transfer a pension already in drawdown? Can I drawdown part of my 25% tax free cash now, and some at a later date? Do I have to fill any forms to take money out of my pension? What type of account am I able to withdraw money into? About pension annuities Can I purchase a pension annuity from PensionBee? Does purchasing a pension annuity via PensionBee cost anything? About the PensionBee referral programme Are there rewards for referring friends to PensionBee? How does the referral scheme work? How many friends can I refer? About transferring out of PensionBee How do I transfer my pension out of PensionBee? How long does it take to transfer my pension out of PensionBee? Are there any exit fees for transferring out of PensionBee? About PensionBee security and data protection How do you protect my personal information? What are the digital security policies of PensionBee? How do I protect myself against pension scams? Who is Onfido? About PensionBee When and why was the company established? Who are the people behind PensionBee? Who owns PensionBee? How does PensionBee make money? Is PensionBee authorised and regulated by the Financial Conduct Authority? Does PensionBee give advice? Does PensionBee have an App? About living overseas Can I transfer an international pension to PensionBee? I don’t have a UK address, what do I do? What’s a ‘QROPS’ and does PensionBee support it? Can I use a foreign bank account to withdraw or contribute money? Can I contribute to my PensionBee pension if I’m not based in the UK? Can I claim tax relief if I’m not based in the UK? What will happen to my PensionBee pension if I move abroad? I am or, I will soon be a UK Citizen resident in the EU/EEA, did Brexit affect my Pension rights? Other questions What will happen to my PensionBee pension if I die? Does PensionBee take clients with US tax/FATCA reporting requirements? Does PensionBee have an approach to Modern Slavery? Have a question?Call our UK team 020 3457 8444 Monday-Wednesday 9:30am-6pm,Thursday-Friday 9:30am-5pm PensionBee is authorised and regulated by the Financial Conduct Authority. With pensions, your capital is at risk. 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