What happened at PensionBee in June 2021

Zainabb Hull

by , Team PensionBee

at PensionBee

12 July 2021 /  

What happened at PensionBee in June 2021

June was another busy month at PensionBee HQ as we focussed our efforts on making some important product improvements so it’s even easier for you to save for a happy retirement. Read on to find out what else we were up to last month.

We enhanced how we communicate via the app

Product improvements

In June, we introduced Push notifications as an additional way to communicate with customers via our app. If you’ve enabled Push notifications on your mobile, we’re able to keep you updated about the changes you’ve requested on your account, such as a plan switch. In future we’ll use this technology to notify you if we need you to complete an action, for example providing more information to progress a pension transfer. You can enable Push notifications via your mobile’s settings menu, under ‘notifications’.

Our next big project is improving the way we process pension withdrawals, making it simpler for customers aged 55 and over to access their savings. At the moment we charge an Emergency Tax Rate on all withdrawals, which means you need to claim back any overpaid tax from HMRC. We’re working on ways to reduce the amount of Emergency Tax you pay so you can access your money hassle-free and better plan your withdrawals.

As always, we’d love to hear your thoughts on the future product improvements you’d like to see. You can get in touch with the team by emailing [email protected] or sending us a message via Twitter.

Feels so good to take control of your retirement savings

Feels so good

Last month, we launched our new ‘Feels so good’ campaign, featuring six of our lovely customers: Emma (pictured), Ravinder, Amanda, James, Amina and Andrew. The campaign is designed to show that feeling of complete peace of mind and pension confidence savers have after taking control of their pensions. Keep an eye out for our new ads at bus shelters and rail stations across the UK, as well as on the radio.

PensionBee joined the Social Mobility Pledge

Social Mobility Pledge

In June, we signed the Social Mobility Pledge, a business campaign aimed to increase career opportunities for people that have experienced disadvantages. The three-point pledge includes commitments to work with schools, offer work experience, and to use inclusive recruitment practices.

As part of the initiative, PensionBee is developing its own work experience programme, in addition to extending its partnership with several London schools, to provide careers support and financial literacy education. It hopes to address the lack of diversity in the pensions and wider financial services industry by increasing familiarity around this sector, particularly among students who may not be considering this career route.

PensionBee advocates challenging the perceptions of what people in pensions should be, breaking down some of the barriers people face. That’s why applicants wishing to join entry-level roles need no set experience, with these roles specifically advertised on sites aimed at those starting their careers without attending university. PensionBee provides all of the learning tools required and heavily invests in training so that all team members start with the same understanding of the industry.

We’re finalists at the Diversity in Finance Awards

Following a win in 2020, we’re thrilled that we’ve been shortlisted in two categories at this year’s FT Adviser Diversity in Finance Awards: ‘Employer of the Year’ and ‘Trailblazing Company of the Year’. We’re proud of our team’s diversity, with 40% of our employees self-identifying their racial or ethnic background as Asian / Asian British; Black, African, Caribbean, or Black British; Mixed, multiple or other ethnic groups. This is on a par with the 40% representation found in London, where we’re based.

Last month also saw PensionBee CEO, Romi Savova, named in the 2021 LGBT Great ‘Global Top 100 Executive Allies’ for demonstrating support to others.

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.

Keep an eye out for our next update on our blog. We’re always working on new features to make our customers happy so if you have any ideas or suggestions, please email [email protected] or let us know on social media.

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