diff --git a/ghost/members-api/index.js b/ghost/members-api/index.js
index 0259173db8..766951b81a 100644
--- a/ghost/members-api/index.js
+++ b/ghost/members-api/index.js
@@ -166,7 +166,11 @@ module.exports = function MembersApi({
             plans: stripeConfig.plans,
             mode: process.env.NODE_ENV || 'development'
         }),
-        stripeMigrations.populateProductsAndPrices(),
+        stripeMigrations.populateProductsAndPrices().then(() => {
+            return stripeMigrations.populateStripePricesFromStripePlansSetting(stripeConfig.plans);
+        }).then(() => {
+            return stripeMigrations.updatePortalPlansSetting(stripeConfig.plans);
+        }),
         stripeWebhookService.configure({
             webhookSecret: process.env.WEBHOOK_SECRET,
             webhookHandlerUrl: stripeConfig.webhookHandlerUrl,
diff --git a/ghost/members-api/lib/migrations/index.js b/ghost/members-api/lib/migrations/index.js
index 7db8d11abd..b0cdccffa7 100644
--- a/ghost/members-api/lib/migrations/index.js
+++ b/ghost/members-api/lib/migrations/index.js
@@ -17,13 +17,15 @@ module.exports = class StripeMigrations {
      * @param {any} params.StripeProduct
      * @param {any} params.StripePrice
      * @param {any} params.Product
-     * @param {any} params.stripeAPIService
+     * @param {any} params.Settings
+     * @param {import('../services/stripe-api')} params.stripeAPIService
      */
     constructor({
         StripeCustomerSubscription,
         StripeProduct,
         StripePrice,
         Product,
+        Settings,
         stripeAPIService,
         logger
     }) {
@@ -32,7 +34,8 @@ module.exports = class StripeMigrations {
         this._StripeProduct = StripeProduct;
         this._StripePrice = StripePrice;
         this._Product = Product;
-        this._StripeAPIService = stripeAPIService;
+        this._Settings = Settings;
+        this._stripeAPIService = stripeAPIService;
     }
 
     async populateProductsAndPrices() {
@@ -60,7 +63,7 @@ module.exports = class StripeMigrations {
                 let stripePlans = [];
                 for (const plan of uniquePlans) {
                     try {
-                        const stripePlan = await this._StripeAPIService.getPlan(plan, {
+                        const stripePlan = await this._stripeAPIService.getPlan(plan, {
                             expand: ['product']
                         });
                         stripePlans.push(stripePlan);
@@ -98,4 +101,138 @@ module.exports = class StripeMigrations {
             }
         }
     }
+
+    async findPriceByPlan(plan) {
+        const currency = plan.currency ? plan.currency.toLowerCase() : 'usd';
+        const amount = Number.isInteger(plan.amount) ? plan.amount : parseInt(plan.amount);
+        const interval = plan.interval;
+
+        const price = await this._StripePrice.findOne({
+            currency,
+            amount,
+            interval
+        });
+
+        return price;
+    }
+
+    async populateStripePricesFromStripePlansSetting(plans) {
+        if (!plans) {
+            this._logging.info('Skipping stripe_plans -> stripe_prices migration');
+            return;
+        }
+        let defaultStripeProduct;
+        const stripeProductsPage = await this._StripeProduct.findPage({limit: 1});
+        defaultStripeProduct = stripeProductsPage.data[0];
+
+        if (!defaultStripeProduct) {
+            this._logging.info('Could not find Stripe Product - creating one');
+            const stripeProduct = await this._stripeAPIService.createProduct({
+                name: 'Ghost Product'
+            });
+            const productsPage = await this._Product.findPage({limit: 1});
+            const defaultProduct = productsPage.data[0];
+            if (!defaultProduct) {
+                this._logging.error('Could not find Product - skipping stripe_plans -> stripe_prices migration');
+                return;
+            }
+            defaultStripeProduct = await this._StripeProduct.add({
+                product_id: defaultProduct.id,
+                stripe_product_id: stripeProduct.id
+            });
+        }
+
+        for (const plan of plans) {
+            const price = await this.findPriceByPlan(plan);
+
+            if (!price) {
+                this._logging.info(`Could not find Stripe Price ${JSON.stringify(plan)}`);
+
+                try {
+                    this._logging.info(`Creating Stripe Price ${JSON.stringify(plan)}`);
+                    const price = await this._stripeAPIService.createPrice({
+                        currency: plan.currency,
+                        amount: plan.amount,
+                        nickname: plan.name,
+                        interval: plan.interval,
+                        active: true,
+                        type: 'recurring',
+                        product: defaultStripeProduct.get('stripe_product_id')
+                    });
+
+                    await this._StripePrice.add({
+                        stripe_price_id: price.id,
+                        stripe_product_id: defaultStripeProduct.get('stripe_product_id'),
+                        active: price.active,
+                        nickname: price.nickname,
+                        currency: price.currency,
+                        amount: price.unit_amount,
+                        type: 'recurring',
+                        interval: price.recurring.interval
+                    });
+                } catch (err) {
+                    this._logging.error({err, message: 'Adding price failed'});
+                }
+            }
+        }
+    }
+
+    async updatePortalPlansSetting(plans) {
+        this._logging.info('Migrating portal_plans setting from names to ids');
+        const portalPlansSetting = await this._Settings.findOne({key: 'portal_plans'});
+
+        let portalPlans;
+        try {
+            portalPlans = JSON.parse(portalPlansSetting.get('value'));
+        } catch (err) {
+            this._logging.error({
+                message: 'Could not parse portal_plans setting, skipping migration',
+                err
+            });
+            return;
+        }
+
+        const containsOldValues = !!portalPlans.find((plan) => {
+            return ['monthly', 'yearly'].includes(plan);
+        });
+
+        if (!containsOldValues) {
+            this._logging.info('Could not find names in portal_plans setting, skipping migration');
+            return;
+        }
+
+        const newPortalPlans = await portalPlans.reduce(async (newPortalPlansPromise, plan) => {
+            let newPlan = plan;
+            if (plan === 'monthly') {
+                const monthlyPlan = plans.find((plan) => {
+                    return plan.name === 'Monthly';
+                });
+                if (!monthlyPlan) {
+                    return newPortalPlansPromise;
+                }
+                const price = await this.findPriceByPlan(monthlyPlan);
+                newPlan = price.id;
+            }
+            if (plan === 'yearly') {
+                const yearlyPlan = plans.find((plan) => {
+                    return plan.name === 'Yearly';
+                });
+                if (!yearlyPlan) {
+                    return newPortalPlansPromise;
+                }
+                const price = await this.findPriceByPlan(yearlyPlan);
+                newPlan = price.id;
+            }
+            const newPortalPlans = await newPortalPlansPromise;
+            return newPortalPlans.concat(newPlan);
+        }, []);
+
+        this._logging.info(`Updating portal_plans setting to ${JSON.stringify(newPortalPlans)}`);
+        await this._Settings.edit({
+            key: 'portal_plans',
+            value: JSON.stringify(newPortalPlans)
+        }, {
+            id: portalPlansSetting.id
+        });
+    }
 };