PensionBee, a firm focused on the consumer retirement market, is marking its 10th year of operations, which includes a decade of innovation, growth and impact in the pensions industry.
Established back in December of 2014 to help tackle “outdated” pension systems – and with an aspiration to build pension confidence so that everyone can enjoy a happy retirement – PensionBee claims that during this period it has gone from “strength to strength,” solidifying its position as a key player in financial technology with its ethos of “putting the customer first.”
Over the past decade, PensionBee claims that it has enabled systemic change, advocating for a “simplified fee structure, greater transparency and improved access to pensions for the self-employed and gig workers.”
Having grown its customer-base since its inception, PensionBee’s 2021 listing on the London Stock Exchange cemented its reputation as a key player in sustainable growth, setting new “standards for the industry and now managing £5.5 billion in retirement assets for over 260,000 customers across the UK.”
PensionBee’s decade of operations has resulted in it expanding its horizons by launching in the US.
Partnering with State Street, the company is bringing its innovative pension consolidation platform with personalized customer service from its “BeeKeepers” to American savers, aiming to simplify retirement planning in the world’s largest market, known for its complexity.
10 years of PensionBee
- Founded in December 2014: PensionBee was established by Romi Savova, inspired by her personal frustrations with the complexity of consolidating retirement accounts, with a vision of a world where everyone can enjoy a happy retirement.
- Launch of the BeeHive: PensionBee introduced its online pension account, the BeeHive, in 2016 allowing customers to manage their pensions with ease, including setting up contributions, tracking balances, and accessing performance history.
- Simpler annual statements: In 2019, PensionBee was the first provider to adopt the UK government-endorsed simpler annual statement, helping savers better understand their pensions.
- IPO on the London Stock Exchange: PensionBee became a publicly listed company in 2021, reinforcing its position as a leading fintech and enabling further investment in customer-centric innovations and growing brand awareness and customer reach.
- Launch of the Fossil Fuel-Free and Climate Plans: Demonstrating leadership in sustainable investing, PensionBee introduced sustainable pension plans to support environmentally-conscious savers.
- Expansion into the US market: PensionBee marked a major milestone by launching in the United States during 2024, partnering with State Street Global Advisors to drive its international growth.
- Assets and customer growth: PensionBee now manages £5.5 billion in assets for over 260,000 customers, and has an “Excellent” Trustpilot rating, reflecting its trusted reputation among savers.
Romi Savova, Founder and Chief Executive at PensionBee, said:
“Ten years ago, we set out to fix a broken system and make retirement possible for everyone. Today, PensionBee remains committed to these same values as we drive forward our mission to simplify and democratise retirement saving. From our IPO to international expansion and groundbreaking sustainability initiatives, we are proud of what we’ve achieved, the team we have built and are excited for the opportunities ahead. Here’s to another decade of innovation and impact, always keeping our customers at the heart of what we do.”