There are many things that Pension Bee are doing which are good practice in pensions. I have signed their petition and I hope that you will too.

There are hundreds of thousands of people who think of private pensions in terms of Pension Bee. They transfer pots from all kinds of legacy saving they did over the past forty years, or they are tidying up workplace pensions that don’t attract them. They transfer to Pension Bee and a few personal pensions because they make them easy to.

Meanwhile, the workplace pension managers moan that Pension Bee winning business on admin standards (and not on charges) are cheating a system that judges itself by recognition by the DWP and TPR’s rules for occupational schemes. If you want to see how TPR measure themselves in patrolling standards, read a recent statement from TPR’s Rob Lloyd which I labelled “sensible”. It makes sense to the occupational industry but it does not embrace the problems  that Pension Bee and those who use them complain about.

I said yesterday that “good sense” as understood by Pensions UK and those who will gather next month in Manchester does not include the millions of people who do not save into a workplace pension because they are outside of “work” or those who have a history of pension saving into DC “pots”, but now are doing it another way (the public pension way).

Last night I listened to the “Value for Money” podcast just after getting members of my family to sign the Pension Bee petition – and wondered whether these guys tune in to the world of those millions of potential customers of Pension Bee. Not just Pension Bee but all the SIPPs and the wealth managers and to Penfold and Collegia. These firms are trying to make it easy for those outside the workplace to make sense of pensions.

It’s just Pension Bee who have taken the lead.

You might like to  sign the petition from the post above which you can access here.