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PensionBee’s response to the Conservative Manifesto
Becky O’Connor, Director of Public Affairs at PensionBee, and Clare Reilly, Chief Engagement Officer at PensionBee, comment on the Conservative's manifesto
PensionBee comments on slowing wages and rising unemployment
Maike Currie, VP Personal Finance, comments on the latest wage and employment data.
Triple lock sustainability creates generational tension
New research reveals a generational divide over the future of the triple lock.
Generation X risks becoming the first generation to be worse off than their parents in retirement
Generation X is heading towards retirement with worryingly low levels of preparedness.
Invisible workers face pension crisis as new data exposes stark income divide
PensionBee's research reveals division for invisible workers when it comes to retirement security.
PensionBee urges Pensions Commission to deliver bold reforms to secure better retirements for millions of UK savers
Millions risk retirement poverty unless the UK’s pensions system is overhauled, PensionBee has warned, as it calls on the Pensions Commission to deliver bold reforms.
Over half of Brits lack retirement confidence as cost-of-living bites
New research from PensionBee reveals that September is a pinch point for household budgets, with rising bills leading many to reconsider their long-term savings.
PensionBee appoints Maike Currie as VP Personal Finance
PensionBee today announces the appointment of Maike Currie as Vice President of Personal Finance.
PensionBee calls for government action in wake of Pensions Commission revival
PensionBee, a leading online pension provider, has urged the Pensions Commission to support invisible workers.
Misuse of scam warning flags unnecessarily delays transfers
Thousands of pension transfers are being held up unnecessarily by providers who are raising flags for transfers that have no real scam risks.
Pension Landscape 2025: South-East savers outperform other regions, while gender gap remains widest outside London
PensionBee has released its annual Pension Landscape for 2025. Based on analysis of more than 285,000 PensionBee customers as at June 2025.
PensionBee pressures Parliament: encourages savers to contact their MPs on pension transfer times
PensionBee is urging savers to demand faster pension transfers by calling on their MPs to back urgent reforms.
PensionBee comments on Pensions Policy Institute's report on Turner Commission legacy
PensionBee, a leading online pension provider, has commented on the latest research from the PPI.
Young savers catch up with the same number of pension pots as those double their age
New analysis from PensionBee reveals that while young savers have on average saved much less for retirement so far, they have consolidated as many pensions as older savers.
Workplace pension statistics show clear cut case to boost ‘invisible worker’ pensions
Latest statistics highlight the need to support those outside auto-enrolment.
Women who retire at the same time as their male partner could lose £225,000 in pension savings
New analysis from PensionBee reveals that many women could lose out on as much as £225,000 in pension savings, should they retire at the same time as their male partner.
PensionBee CEO highly commended at the Women in Pensions Awards 2019
PensionBee founder and CEO, Romi Savova, was highly commended in 'Change Excellence' at the second annual Women in Pensions Awards.
PensionBee outlines its top three reasons for basing its new United States business in New York
PensionBee highlights its top three reasons for choosing to have it's US business headquarters on the east coast in New York City.
PensionBee’s hopes and expectations for a pension-saver friendly Autumn Statement
Ahead of the Government’s Autumn Statement, PensionBee shares its expectations and hopes for potential changes to key policy areas.
How to weather stock market volatility and protect your pension
PensionBee Director (VP) of Public Affairs, Becky O’Connor, sheds light on current market volatility and offers some practical tips to help people safeguard their pensions.
PensionBee receives high commendation at the Workplace Savings and Benefits Awards 2019
PensionBee received a high commendation in the ‘Pension Provider of the Year’ category at the Workplace Savings and Benefits Awards 2019.
Over 80% of voters wish to see a pension and savings review from the incoming government
A recent survey by PensionBee highlights strong desire for the incoming government to conduct a review of the pensions and retirement savings system.
Minister for Pensions and Financial Inclusion visits PensionBee
On Monday 10 December, the Minister for Pensions and Financial Inclusion Guy Opperman visited PensionBee at their offices in London Bridge to discuss the latest technological advances in the pensions industry and the future of pensions.
Romi Savova is one of Grant Thornton's Faces of a Vibrant Economy
Who are the people shaping a vibrant Britain? Grant Thornton's 100 Faces of a Vibrant Economy reveals all, and we're proud to say that Romi Savova - CEO of PensionBee - made it on the list.
Update on Proposed US Expansion
PensionBee Group plc today provides an update on its proposed expansion into the United States of America.
PensionBee comments on upcoming Mansion House speech
PensionBee comments ahead of Chancellor Rachel Reeves’ first Mansion House speech where she is expected to put pension scheme reform under the spotlight.
Brits crave government support to address chronic pension undersaving in the UK
New analysis reveals that pension savers are calling for increased support from the government to establish clear benchmarks for retirement saving.
Over half of Brits are in the dark or ‘dangerously underestimating’ the minimum cost of retirement
New research from PensionBee reveals a concerning knowledge gap among Brits when it comes to the critical question: “how much money will I need in retirement?”
UK’s top earners have left £1.3bn in unclaimed tax relief to the Chancellor since 2016/17
Analysis by PensionBee has found that the UK’s highest earners left £1.3 billion of unclaimed pension tax relief to the taxman between 2016/17 and 2020/21.
Leading UK pentechs join forces to launch online game Scam Man & Robbin'
Four of the UK's leading digital pension platforms have collaborated to create an engaging new online game that aims to educate consumers about pension scams in response to a spike in online fraud.
PensionBee receives high commendation at the UK Pensions Awards 2019
PensionBee was praised for its high level of innovation, in the DC Innovation of the Year category, at the 22nd annual UK Pensions Awards.
PensionBee wins at the UK Pensions Awards 2020
PensionBee has been named 'DC Pension Provider of the Year' at the 23rd annual UK Pensions Awards.
Transfer delays persist as industry struggles to improve efficiency
PensionBee’s latest analysis of its own data has revealed that some transfers take over two months to complete.
PensionBee's pension transfer analysis features in the Telegraph
Our analysis of more than 50,000 defined contribution pension transfers, processed since 2016, showed huge variation between firms.
PensionBee wins at the Computing Tech Marketing & Innovation Awards
PensionBee wins the award for ‘Diversity and Inclusion Champion’ at the Computing Tech Marketing & Innovation Awards.
Shareholders of tech giants fail to address pension savers’ concerns surrounding AI
Despite concerns from pension savers, shareholders of three of the biggest US tech companies have dismissed calls to address the risks associated with AI.
Three pension-related reasons you might need to fill out a tax return
With the deadline for 2022/2023 tax returns fast approaching, PensionBee outlines three pension-related reasons you might need to fill one out.
33% of pension savers want to divest from companies that don't pay the Living Wage
PensionBee's latest survey reveals 1/3 pension savers would prefer to divest from companies that don’t pay a Living Wage from the outset, rather than engage with them to drive better behaviour.
Majority of pension savers perceive net-zero pledges as disingenuous and having little impact
New analysis from PensionBee reveals that that most pension savers (63%) viewed net-zero pledges as disingenuous and making little difference to the climate crisis.
Brits support for investing in UK businesses and infrastructure contingent on pension performance
British pension savers may only support the investment of their retirement funds in UK-based growth businesses if they demonstrate strong returns, new research suggests.
‘Super savers’ save up to five times more in their pension than the average for their age group
Some pension savers could wear capes, according to new analysis from PensionBee, which has identified the emergence of ‘super savers’.
Freshers face repaying student loans into retirement under new 40-year term
New findings suggest that students going to university for the first time this year could be the first crop of graduates repaying their university debts into retirement.
Statement regarding Aegon
Statement regarding Aegon on resuming electronic pension transfers with PensionBee.
PensionBee Announces State Street Global Advisors Takes Strategic Minority Stake in Business
State Street Global Advisors (SSGA), the world’s third largest investment manager, has taken a minority equity stake in PensionBee.
State Pension highest ever increase in line with inflation “at long last” for pensioners
From 6 April, the full amount of the weekly State Pension will increase by 10.1%, the highest ever rise for 12.5 million recipients.
Early retirees could face a ‘Pre-State Pension Gap’ of more than £135,000
PensionBee launches its State Pension Age Calculator, designed to help savers evaluate if they can retire before they’re eligible to receive the State Pension.
State Pension age needs to rise to 71 by 2050: PensionBee’s response
PensionBee responds to a new report from the International Longevity Centre that suggests that the UK’s State Pension age will need to rise to 71 by 2050.
PensionBee acclaimed for innovation at both the Startups and FT Future of Fintech Awards
PensionBee has capped off an excellent year of growth by winning a Startups Award and being shortlisted for an FT Future of Fintech Award.
Pension savers call for Annual Allowance to rise in line with inflation in upcoming Spring Statement
Research from PensionBee reveals that increasing the Annual Allowance could be the most popular change to pension tax allowances in the upcoming Spring Statement.
Saving our savings: Building a pension system that works for everyone
PensionBee has issued a manifesto urging the government to improve engagement and transparency within the pension industry.
PensionBee responds to the DWP’s Small Pots Delivery Group Report
PensionBee has responded to the DWP's Small Pots Delivery Report
PensionBee finds frequent pension withdrawals can increase retirees' spending power by 20%
New analysis from PensionBee has found that taking small amounts from a pension pot regularly would preserve significantly more for consumers to enjoy, compared to withdrawing large one-off amounts.
Pensions Minister seeks PensionBee’s support in the development of Simpler Annual Benefit Statements
The Minister for Pensions and Financial Inclusion, Guy Opperman, has written to PensionBee seeking input in the development of regulations for Simpler Annual Statements.
Supporting shareholder resolutions through pensions
PensionBee responds to the publication of ShareAction’s Voting Matters, which found a decline in the proportion of shareholder resolutions passed from 2021 to 2023.
PensionBee on Share Radio: how to combine and transfer pensions
Romi joined Georgie Frost on Share Radio to discuss the problem of having lots of pension pots, and revealed how some big pension providers are making transfers tricky.
PensionBee on Share Radio: your own BeeKeeper to bring your pensions online
Romi joined Georgie Frost on Share Radio to discuss the problem of having lots of pension pots if you've had several different jobs, and how PensionBee can help.
Self-employed savers turn to their pension in 2021
New PensionBee analysis shows that self-employed customers’ monthly contributions and average withdrawal amounts have risen sharply in H1 2021, compared to H1 2020.
Self-employed contribute 30% less to their pensions in lockdown, while overall contribution amounts rise
New data released by PensionBee shows lockdown has had a significant impact on self-employed savers' contribution rates in April 2020, with tax year-end contribution sizes decreasing by 30%.
Less than 60% of scam victims fully recover financial losses
New research from PensionBee reveals that only 57% of scam victims fully recover their financial losses, with scammers estimated to have seen a 30% increase in profits in 2021 compared to the year prior.
New game to tackle pension scams attracts over 1,000 players in first week since launch
Scam Man & Robbin', the new online game that aims to tackle the rapid increase in pension scams, has been played over 1,000 times since its launch last week.
Pension savers call for transparency and accountability in AI practices
A PensionBee survey has found that pension savers are concerned over the risks Artificial Intelligence (AI) developments by tech giants could pose to society.
81% of savers want a more transparent approach to pensions investments
Research conducted by PensionBee has revealed a rapidly emerging mainstream consensus among UK savers regarding how their money's invested.
Savers expected to find just 6/10 pensions on Pensions Dashboard
PensionBee estimates that savers would find just 6/10 of their pensions upon logging in to the Pensions Dashboard, when it launches in the 2020s, due to poor data quality.
Majority of savers lack pension confidence and feel their pension provider could do more to help
New research from PensionBee finds that less than half (39%) of respondents feel confident about their retirement savings.
Savers’ interests must be at the heart of pension market changes
PensionBee responds to the DWP Pension Investment Review, emphasising the importance of prioritising savers' best interests.
Savers in the South East have the greatest average pension wealth in the UK
New analysis of more than 198,000 PensionBee customers reveals a substantial difference in average pension pot sizes, depending on a saver’s location.
Pension savers poised to make most of market rebound can recoup recent losses and make up for years of saving neglect
New modelling from PensionBee shows that savers could see a faster recovery of any money lost during the COVID-19 crisis by increasing their pension contributions ahead of a market rebound.
PensionBee finds that savers are contributing more to their pensions, and withdrawing less, during lockdown
New data released by PensionBee shows lockdown has had a significant impact on savers' contribution and withdrawal rates in April 2020, with tax year-end contributions increasing by over 40%, and withdrawal rates down 33% year on year.
PensionBee CEO wins at the City AM Awards 2019
Romi Savova, CEO of online pension provider PensionBee, named ‘Entrepreneur of the Year’ at the City AM Awards 2019
PensionBee CEO, Romi Savova, inducted into 11:FS Awards Hall of Fame
PensionBee's pleased to announce that its CEO, Romi Savova, has been inducted into the prestigious 11:FS Awards Hall of Fame.
PensionBee CEO, Romi Savova, writes for The Evening Standard
PensionBee CEO, Romi Savova, discusses the importance of aiming for 50/50 gender representation in financial services.
Several pension providers appear to abuse new legislation to block or delay pension transfers
PensionBee has written to Guy Opperman MP, Minister for Pensions and Financial Inclusion, to alert him of a handful of pension providers, who appear to be abusing the latest pension legislation to block and delay consumers from moving their own pensions.
Fees, exit penalties and transfer delays – new research exposes the good and the bad amongst UK pension providers
PensionBee has tracked 1,800 pension transfers from 20 providers, and identified big differences when it comes down to costs, exit fees and transfer times.
PensionBee calls for 10-day pension switch guarantee
Some of Britain's biggest pension providers could be making transfers deliberately tricky, according to data collected by PensionBee.
Eager to get on top of your pension? Chances are your provider won’t make it easy...
Pension providers are failing customers on everything from response times to fees, according to the PensionBee Robin Hood Index. Find out more.
Challenging the industry on everything from response times to annual fees
Ever since we started, your old pension providers have been making life tricky, so we decided it was time to get our own back and give an almighty shock to the industry.
Revolut breaks into pensions as it joins forces with PensionBee
Revolut, the app-based banking alternative, is moving into pensions after announcing an industry-first partnership with online pension manager PensionBee.
Nearly a third of Brits admit to being ‘retirement overspenders’ due to rising cost of living
Nearly a third of Brits admit that they've overspent in their retirement due to the rising cost of living according to new analysis by PensionBee.
Retirees may need an additional £90,000 in pension savings due to soaring inflation
New financial modelling from PensionBee reveals that due to high rates of inflation, the average retiree may need an additional £90,000 in pension saving during periods of medium market performance to maintain a comfortable lifestyle over a 20-year retirement.
Changes to National Insurance could pull the rug out for growth plans
PensionBee shares its reaction to the measures announced in today’s Autumn Statement.
PensionBee responds to the 2024 General Election result
PensionBee responds to the 2024 General Election result, anticipating significant advancements in several key areas of pension policy.
Fully remote workers could boost their pensions by more than £166,000 by retirement
New research from PensionBee reveals that almost 60% of fully remote workers would consider adding extra savings as a result of home working into their pensions.
PensionBee launches native mobile app
The online pension manger has launched its native mobile app, allowing customers to manage their pension easily from their smartphone.
Chancellor pulls out the biggest of carrots for 'experienced' workers
PensionBee Director (VP) of Public Affairs, Becky O'Connor, reacts to a number of announcements in the Chancellor’s Spring Statement.
Pension savers take advantage of tax year-end to boost their quarterly contributions by over 60%
Pension savers increased their average quarterly contributions by 63% in Q1 2024 compared to Q4 2023, according to new analysis from PensionBee.
Self-employed savers are choosing to keep more of their pension invested for longer
New analysis from PensionBee reveals that self-employed savers are choosing to keep their savings invested despite rising inflation.
Pension saving strong in 2025, yet gender inequality remains entrenched
Pension savers have maintained strong contribution levels in the first half of 2025, sustaining the record momentum seen in 2024.
Pension withdrawals decline as economic uncertainty rises
New analysis from PensionBee reveals that average quarterly withdrawal amounts for all customers declined by over 10%, from £13,132 in Q1 2021 to £11,676 in Q1 2022.
Put a pay rise in a pension and get a bigger rise in retirement income later on
New analysis has found that putting a pay rise in a pension now can lead to a bigger rise in annual retirement income later on.
If the government takes away on pensions, it needs to give a little too
Ahead of the Government’s Spring Statement, PensionBee has identified nine key policy changes the Government could feasibly introduce to improve retirement outcomes.
Pot for life significantly more popular than stapling for managing multiple pots
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PensionBee petition calling for a 10-day pension switch guarantee attracts over 2,000 signatures in first two weeks
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The chance of making £10,000 is greater with pension contributions than lottery tickets
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Majority of savers lack pension confidence and feel their pension provider could do more to help

by
Laura Dunn-Sims
,
Head of Consumer PR
24 Aug 2021
/
2
minute read
Press
24
Aug 2021
Press

New research from leading online pension provider, PensionBee, finds that less than half (39%) of respondents feel confident about their retirement savings. 42% of savers admit that they don’t feel like engaging with their pensions, which includes checking their balance and making contributions, because it’s too complex.

The existence of thousands of pension products, which use complicated pension jargon, paired with complicated fees are often cited as causing inertia among consumers. However, PensionBee’s latest research also highlights the role of pension providers in this problem, in particular their failure to support their customers. 43% of respondents reported that they are not saving enough for retirement, and that their providers could do more to help them in their savings journey.

While 53% of savers are able to view their pension balance online at any time, a significant number of savers (47%) still receive an annual statement through the post. As a consequence of this lack of regular oversight, more than half of respondents (56%) admit that they are concerned about their pension savings, but do not know where to start in rectifying the problem.

PensionBee CEO, Romi Savova, comments: “We’ve seen first hand that consumers feel more confident about saving for retirement when they can interact with their pensions online. Using proprietary technology and open APIs, we’ve made it easy for our customers to view their live balance, make contributions and withdrawals, and plan for the future, all while having full transparency on fees.

A wider adoption of modern technology across the pensions industry is needed if we are to tackle dwindling consumer confidence. Regular oversight over one’s pension not only aids in making informed financial decisions, but promotes a greater sense of ownership and engagement over their lifetime, which leads to better outcomes.”

Appendix

Table 1: Confidence level

I feel confident about my retirement savings                                      Proportion of respondents
Strongly agree13%
Agree26%
Neither agree nor disagree24%
Disagree29%
Strongly disagree8%

Source: PensionBee, July 2021. 499 respondents. Numbers have been rounded.

Table 2: Engagement

I don’t feel like engaging with my pension (e.g. checking balance, contributing), it’s too complex Proportion of respondents
Strongly agree 10%
Agree 32%
Neither agree nor disagree 29%
Disagree 21%
Strongly disagree 8%

Source: PensionBee, July 2021. 499 respondents. Numbers have been rounded.

Table 3: Perception of provider support

I’m not saving enough into my pension, and my provider could do more to help Proportion of respondents
Strongly agree 13%
Agree 30%
Neither agree nor disagree 34%
Disagree 18%
Strongly disagree 5%

Source: PensionBee, July 2021. 499 respondents. Numbers have been rounded.

Table 4: How often savers can see the value of their pensions

I’m able to view the balance of my pension online anytime Proportion of respondents
Yes 52%
No, I receive an annual statement in the post 47%
Neither agree nor disagree 1%

Source: PensionBee, July 2021. 499 respondents. Numbers have been rounded.

Table 5: Perception of retirement savings

I’m worried I’m not saving enough for retirement but don’t know where to start Proportion of respondents
Strongly agree 18%
Agree 38%
Neither agree nor disagree 22%
Disagree 16%
Strongly disagree 6%

Source: PensionBee, July 2021. 499 respondents. Numbers have been rounded.

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