Online pension provider PensionBee is drawing attention to seemingly pressing challenges in US retirement planning while offering practical solutions. With dormant accounts multiplying and many savers disconnected from their savings, the Fintech company emphasizes proactive steps—especially during tax season—and highlights investment tools like the SPY ETF to help US investors regain control of their financial management strategies.
A recent PensionBee survey of 1,000 U.S. adults reveals a startling disconnect: one in four cannot confidently identify who manages their retirement accounts.
The provider estimates that over 30% of workplace plans such as 401(k)s and 403(b)s are now dormant—up sharply from 21% in 2012.
These “forgotten” accounts often linger after job changes, becoming difficult to monitor for fees, performance, or necessary adjustments.
Without regular oversight, portfolios risk drifting from an individual’s risk tolerance and timeline, potentially leading to suboptimal growth or automatic rollovers into lower-yielding options for balances under $7,000.
Survey respondents showed varying levels of engagement.
While 57% check asset allocation quarterly, nearly one-third review their savings only once or twice a year, and 9% rarely or never do so.
Over half (55%) have never consolidated old accounts, leaving funds scattered across providers.
When questions arise, 40% contact their plan administrator directly, 28% turn to their current employer, and just 4% use AI tools.
PensionBee Founder and CEO Romi Savova stressed the importance of staying connected: active monitoring helps avoid excessive fees and ensures investments align with personal goals.
Periodic reviews, even every few months, can prevent costly drift and keep savers on track for a secure retirement.
Tax season presents a critical window to address these issues.
PensionBee notes that the filing period is often the only time many Americans (nearly half, per broader data) pause to review finances.
Crucially, it’s the final opportunity to make IRA contributions for the previous tax year while also funding the current one.
Workers change jobs an average of 12 times in their careers, and many receive little guidance on what to do with old 401(k)s—53% say former employers offered no help understanding options.
PensionBee urges using W-2s and 1040s as prompts to hunt for “lost” savings.
Consolidating scattered accounts into a single IRA simplifies oversight, reduces fees, and provides a clear view of overall progress.
For those ready to invest smarter, PensionBee recommends the SPDR S&P 500 ETF Trust (SPY) as a cornerstone for retirement portfolios.
Launched in 1993 as the first U.S. ETF and still the world’s most heavily traded, SPY delivers broad exposure to 500 leading American companies.
Its market-cap weighting favors giants in tech, healthcare, finance, and more, delivering historically strong average annual returns of around 10% (based on S&P 500 Total Return data through mid-2025).
The fund’s passive management keeps costs low, while daily transparency and high liquidity make it ideal for long-term compounding.
PensionBee integrates SPY-powered strategies across its investment portfolios, helping users roll over old plans seamlessly with expert support.
With dormant accounts growing nearly three times faster than active ones, PensionBee’s insights indicate the people need to carefully monitor their accounts.
It may now also be worthwhile to use tax season to consolidate, contribute, and align investments with vehicles like SPY. Taking these steps can potentially transform scattered savings into a unified, growth-oriented retirement plan.