PensionBee Group plc is pleased to announce that it has achieved Assets under Administration of over £5 billion, reaching 250,000 Invested Customers in June 2024.
According to PensionBee, these important milestones have been “achieved through the continued delivery of the company’s strategy, driven by a combination of high and consistent customer retention and strong net inflows from new and existing customers.”
Romi Savova, CEO of PensionBee, commented:
“Reaching a quarter of a million Invested Customers across the UK is a significant milestone in our journey, as we help to meet the country’s ever greater need for long-term retirement planning and preparedness, creating Pension Confidence.”
As noted in the update:
“The continued growth of the business in line with our ambitions, demonstrated by Assets under Administration of £5 billion, has been achieved through our prioritisation of delivering excellent customer service, our scalable technology platform and our innovative product designed to meet the needs of our customers. We look forward to helping even more people achieve a happy retirement.”
As covered, PensionBee is an online pension provider, “helping you transfer your old pensions into one new plan, that you can easily manage online.”
They’re on a mission to make you pension confident by “helping you take control of your pension savings and plan for a happy retirement.”
With PensionBee you can manage your pension “from the palm of your hand: check your real-time balance, see your projected retirement income, and set up contributions and withdrawals online.”
New analysis of more than 240,000 PensionBee customers reveals “a substantial rise in average pension pot sizes across the UK, increasing by 16% from £17,379 in March 2023, to £20,077 in March 2024.”
They also looked at the average pension pot size by region and found:
- savers in the North West experienced the biggest increase in their pension wealth, with their average pot size rising by 18% from March 2023 to 2024;
- the average pot size in Greater London stood at £23,393; and
- residents in the South East saved the most into their pensions, with an average pot size of £25,734.
These findings highlight how people are “continuing to prioritize their pensions more than ever.”
