London, 23 September 2019: online pension provider PensionBee has become one of the first companies in its sector to sign up to an ABI-led initiative aimed at increasing transparency around parental leave and pay.
Today the ABI (Association of British Insurers) announced the launch of its sector-led initiative calling on its insurance and long-term savings members to publish details of their parental leave policies publicly on their websites, to ensure transparent and easily accessible information.
PensionBee is among the first 21 companies to sign up to the voluntary initiative and joins some of the UK’s biggest insurance and long-term savings brands including Aviva, LV= and Zurich Insurance UK.
Today’s launch coincides with the start of National Inclusion Week, which comes as the government is consulting on proposals to balance the gender division on parental leave.
Romi Savova, CEO at PensionBee commented: “We’re proud to be among the first companies in our sector to sign up to this important initiative, demonstrating our continued commitment to supporting working parents and championing inclusion at PensionBee.
As a working mother, I have first-hand knowledge of the critical role of companies in providing supportive working environments for women, however, I firmly believe we shouldn’t restrict parental leave based on outdated gender stereotypes, and should instead encourage men to also take on child caring responsibilities.
Earlier this year we introduced a gender-neutral parental leave policy which entitles all employees to six months’ full pay, with the first month being mandatory. We’re pleased to be leading the way on increasing transparency and diversity in the pensions industry and are developing lots of new policies in this area, such as increased annual leave for parents. In the future our longer-term plans are to address the affordability of childcare, which we know disproportionately affects women and is one of the main reasons women take career gaps after having a child.”
