Update on Assets under AdministrationSource: RNS
PensionBee Group plc
Incorporated in England and Wales
Registration Number: 13172844
28 November 2022
PensionBee Group plc
Update on Assets under Administration
PensionBee Group plc ("PensionBee" or the "Company"), a leading online pension provider, is pleased to announce that it has achieved Assets under Administration of over £3 billion in November 2022.
This important financial milestone has been delivered despite the macroeconomic volatility, and has been driven by a combination of high customer retention and strong net inflows.
Romi Savova, CEO of PensionBee, commented:
"The ongoing growth in our Assets under Administration results from our commitment to delivering outstanding customer service and helping more people prepare for a happy retirement. We are growing the business in line with our ambitions while helping to meet the country's ever greater need for long term retirement planning and preparedness."
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James Macey White +44(0)20 7353 4200
PensionBee is a leading online pension provider, enabling customers to interact with their savings through its unique combination of smart technology and dedicated customer service.
Since it was founded in 2014 by Romi Savova, PensionBee has been a challenger in an industry ripe for disruption. It has grown rapidly by helping consumers to solve the challenges they face when it comes to locating, combining and managing their pension savings. PensionBee counts 174,000 Invested Customers from 18-80 years of age with £2.8 billion in Assets under Administration as at 30 September 2022. Its range of pension plans are tailored to its customers and are managed by some of the world's largest money managers including BlackRock, HSBC, Legal & General and State Street Global Advisors.
PensionBee uses its proprietary technology and Open APIs to allow customers to manage their pension easily, view their live balance, and with the help of a smart calculator to plan their savings, make contributions and withdrawals online, all with transparency on fees. It continuously engages with customers through its dedicated customer account managers using jargon-free communication and listens to feedback to develop new tools which help customers to easily plan for their retirement. PensionBee has consistently maintained a Customer Retention Rate and an AUA Retention Rate of >95% and an Excellent Trustpilot rating.