I can’t believe it’s been 10 years since PensionBee was born. Looking back at what we’ve achieved over a decade of innovation, growth and impact in the pensions industry, I couldn’t be prouder.
Our mission’s to build pension confidence for millions of consumers and our values of love, quality, honesty, innovation and simplicity guide our actions. We’re now a 200-strong team of retirement experts across the UK and the US, passionate about helping consumers plan, save for and ultimately enjoy a happy retirement.
When I founded PensionBee, after a negative experience trying to move my own pension when changing jobs, the industry was very different to how it is today. Over the last 10 years, we’ve championed systemic change, advocated for a simplified fee structure, greater transparency and improved access to pensions for the self-employed and gig workers. I’ve really enjoyed looking back at some of our key milestones.
In 2016 we launched the BeeHive, our online pension account, which allows customers to manage their pensions with ease, including setting up contributions, tracking balances, and accessing performance history.
And in 2018 we took it a step further. Based on feedback from the PensionBee community we launched our app. From tracking your balance on the go and monitoring transfers to updates from your account manager - your ‘BeeKeeper’ - we’ve continued to improve the app based on what you tell us you need.
We were the first pension provider to adopt simpler annual statements in 2019, which meant that savers could better understand their pensions, something we’ve been striving for since the beginning.
In direct response to our customers’ feedback we introduced our innovative Fossil Fuel Free Plan in 2020. Customers told us they wanted to send a stronger message to big polluters by excluding fossil fuel producers and other sectors while investing in companies better prepared for the low carbon shift. Over the past few years, sustainable investing has evolved and so have we. As new types of climate funds have developed, our plan range has kept up with the industry and as a result we launched our new Climate Plan, which will automatically decarbonise over time.
A huge moment for us at PensionBee was our 2021 listing on the London Stock Exchange, which cemented our reputation as a leader in sustainable growth and set new standards for the industry. We now manage £5.5 billion in retirement assets for over 260k customers. We also hit 10k Trustpilot reviews this year, with over 80% giving us 5 stars. This means we have an “Excellent” rating, and I really think it reflects our trusted reputation among savers.
Our trusted position in the market also reflects the way in which we approach pensions: as a path to a happy retirement for everyone. At PensionBee, we welcome customers from every walk of life and that diversity is also reflected in our team. Over half of PensionBee’s workforce identify as women or minority genders, and 40% are from ethnically diverse backgrounds. In an industry known for its lack of diversity, this is something I’m hugely proud of.
So what’s next for PensionBee?
What a year 2024 has been. We’re ending the year on a high having recently launched in the United States where we’re aiming to simplify retirement planning in the world’s largest market, known for its complexity. We’ve partnered with State Street Global Advisors (SSGA) to bring our technology platform and personalised customer service from our team of ‘BeeKeepers’ to American savers.
Looking forward to 2025 we’ll continue to innovate. We’re already in the thick of it improving our app, plan range and more. We’ll keep you up to date with everything through our content here on the blog and we’re committed to building pension confidence through our award-winning Pension Confident Podcast, video content and app.
I’d like to say a huge thank you to our valued customers, the fantastic PensionBee team, and the investors and supporters who have been with us through every twist and turn over the past ten years.
Risk warning
As always with investments, your capital is at risk. The value of your investment can go down as well as up, and you may get back less than you invest. This information should not be regarded as financial advice.
