PensionBee Supplier Code of Conduct
- Scope and Compliance
- Workforce Standards
- Diversity, Inclusion & Equal Opportunities
- Business Integrity, Ethics & Anti-Corruption
- Tax Strategy
- Environment and Climate Change
- Privacy & Digital Security
At PensionBee we’re guided by five core values, so we always do the right thing by all our stakeholders. These values are Love, Honesty, Quality, Simplicity, and Innovation.
This Supplier Code of Conduct outlines PensionBee’s business ethics and sets the minimum expectations and standards for all PensionBee Suppliers in relation to workforce standards, human rights, diversity & inclusion, integrity & ethics, tax strategy and the environment.
Scope and Compliance
PensionBee’s Supplier Code of Conduct applies to all suppliers or any other person or persons associated or doing business for or with PensionBee, no matter where they are located (within or outside of the UK).
PensionBee expects Suppliers and any subcontractors, providers, agents or any others acting on our behalf that they use to abide by all applicable laws, regulations and other legal requirements in jurisdictions where they operate.
PensionBee expects all Suppliers and business partners that we work with to adhere to the high standards set in this Supplier Code of Conduct and to strive to act honestly in all aspects of business. To facilitate this we have shared our Supplier Code of Conduct directly with all of our suppliers. We rely on Suppliers to report any known or suspected violations of this Code of Conduct.
Human Rights Commitment
PensionBee conducts business in accordance with the highest legal and ethical standards. Respect for human rights is fundamental for us and we strive to respect and promote human rights in accordance with international human rights principles encompassed by:
- United Nations (UN) Guiding Principles on Business and Human Rights
- United Nations (UN) Universal Declaration of Human Rights
- International Bill of Human Rights
- International Labour Organisation’s (ILO) Core Conventions
- OECD Guidelines for Multinational Enterprises (OECD Guidelines)
We require all Suppliers to respect fundamental human rights to ensure all their workers are treated with dignity and respect.
At PensionBee, we are committed to our values of Love, Honesty, Quality, Simplicity and Innovation. We act responsibly in all business dealings and expect our Suppliers to uphold these principles and urge them to adopt similar policies within their own businesses. We expect all Suppliers to treat any company’s employee and non-employee direct operations workers, any fixed-term/temporary employees, contractors, agency workers and/or third party on site workers fairly and equally.
PensionBee is an investor signatory and disclosing company of the Workforce Disclosure Initiative (WDI). We encourage all Suppliers to improve their transparency and accountability on workforce issues and we encourage all Suppliers to disclose under the WDI.
Working Hours, Rest Days & Compensation
PensionBee pays all its employees at least a London Living Wage, regardless of where they are based. PensionBee formalised its commitment to the Living Wage in February 2020 by becoming an accredited Living Wage Employer. PensionBee’s goal is to ensure fair and appropriate compensation for all its employees.
We ask any Suppliers providing PensionBee with goods or services to pay at least the UK Living Wage to any employees and non-employees (including fixed-term/temporary employees, contractors, agency workers and/or third party on site workers). Note, the UK Living Wage pays a real living wage based on the true cost of living and is different to the UK Minimum Wage.
We expect our Suppliers to ensure that working hours, including overtime, do not exceed applicable legal limits and to ensure fair and proper hiring, firing, and performance evaluations to any employees and non-employees. Suppliers shall comply with local laws regarding payment and working hours, including overtime, rest days and public holidays.
Freedom of Association & Grievance Mechanisms
We recognise that freedom of association and the right to collective bargaining are fundamental rights. At PensionBee we uphold our colleagues’ rights to association and collective bargaining, in line with our core values of Love and Honesty.
We expect our Suppliers to respect their employees’ rights of freedom of association and collective bargaining. We also expect all Suppliers to have grievance mechanisms in place through which employees can raise complaints or concerns ensuring they are protected from retaliation or reprisal for speaking up or lodging grievances relating to their rights as workers and working conditions. Suppliers shall make all relevant information about their employees’ rights easily accessible to any employees.
No Child Labour and Modern Slavery
At PensionBee we do not tolerate the use of child labour and expect our Suppliers not to use children in their operations or their value chains. We also expect our Suppliers to allow all employees to leave their employment freely upon reasonable notice, and never use any forced labour or involuntary prison labour.
Therefore, we expect our Suppliers to ensure there is no inhumane treatment or threat to workers, including any harassment, corporal punishment, or mental or physical coercion of workers. Suppliers must treat all workers with dignity and respect.
Modern slavery is a crime and a violation of fundamental human rights. It takes various forms, such as slavery, servitude, forced and compulsory labour and human trafficking, all of which have in common the deprivation of a person’s liberty by another in order to exploit them for personal or commercial gain.
PensionBee has a zero-tolerance approach to modern slavery and we are committed to acting ethically and with integrity in all our business dealings and relationships to implement and enforce effective systems and controls to ensure modern slavery is not taking place anywhere in our own business or our supply chain. We expect the same high standards from all of our contractors, suppliers and other business partners.
A Safe & Healthy Workplace
Health and Safety are a pivotal part of our continued commitment to a healthy and safe workplace. PensionBee will take reasonable steps to:
- Provide adequate control of any health and safety risks arising from its workplace activities
- Involve and consult where possible its employees on matters affecting their health and safety
- Provide and maintain safe equipment
- Provide information, instruction, and supervision for employees
- Prevent accidents and cases of work-related illness
- Maintain safe and healthy working conditions
- Review and revise this Health and Safety Policy and Procedure as necessary at regular intervals.
Our Suppliers should provide workers with a safe and healthy workplace that complies with all applicable health and safety laws and regulations, in which employees are treated with respect and do not suffer from harassment, bullying, visual, verbal and physical abuse or any conduct that creates an intimidating, offensive or hostile workplace.
Safe and healthy working conditions include offering emergency training and resources, practising industrial hygiene, and enacting equipment safety initiatives, as appropriate. Suppliers should take proactive measures to prevent workplace hazards.
Diversity, Inclusion & Equal Opportunities
PensionBee is committed to promoting equality, diversity and inclusion, preventing unlawful discrimination and ensuring that our colleagues all feel respected and safe at work.
PensionBee expects all Suppliers to take any necessary steps to provide equality, fairness and dignity for everyone, oppose and prevent all forms of unlawful discrimination, create a working environment free of bullying, harassment, victimisation and unlawful discrimination, where every person’s individual differences and contributions are valued and respected.
PensionBee publishes gender pay gap data on an annual basis and we expect all Suppliers to publish annual gender pay gaps reports where data is available, we also ask our Suppliers to secure that all employees are given equal treatment as regards terms and conditions of employment and are protected against wage discrimination based on gender or ethnicity.
As part of its continued efforts to champion equality in the workplace, PensionBee has signed up to the Government’s Disability Confident Scheme. We are committed to working through the scheme and ultimately reaching the Disability Confident Leader (Level 3). As this is a scheme we are passionate about, we expect all our Suppliers to commit to the scheme wherever possible.
Business Integrity, Ethics & Anti-Corruption
PensionBee strives to maintain the highest standards of governance, personal and corporate ethics, and to comply with all applicable laws and regulations. PensionBee’s Anti Bribery and Corruption Policy applies to all employees and others associated with our firm.
PensionBee expects its Suppliers to act and conduct themselves in the highest ethical manner in all business dealings and interactions. We rely on our Suppliers to disclose any potential or perceived conflicts of interest in relation to any ongoing service provided to our business.
PensionBee is committed to being a responsible and compliant taxpayer in the United Kingdom. The United Kingdom is our operating location, as it is where PensionBee has its business activity and where 100% of employees in the company’s direct operations have their working location. Where we contract with suppliers we ensure that we correctly deal with our tax obligations in respect of payments to them.
We ask our Suppliers to be equally responsible and compliant taxpayers in the countries where they operate, and to conduct their tax affairs in a way which is aligned with our Code of Conduct, paying due regard to the Corporate Criminal Offences legislation, where relevant.
Environment and Climate Change
Our Suppliers should ensure their production processes are responsible and environmentally friendly. At a minimum, we expect our Suppliers to follow all applicable environmental laws, regulations, and standards. This includes requirements for recycling, industrial wastewater treatment and discharge, air emissions controls, environmental permits, and environmental reporting. Suppliers are encouraged to develop and maintain business practices to promote energy efficiency, reduce pollution (including greenhouse gas emissions), and conserve resources.
PensionBee expects its Suppliers to integrate Environmental, Social, and Governance (ESG) factors and climate-related risks in their management processes. Climate change refers to longterm shifts in temperatures that are changing weather patterns and disrupting the usual balance of nature. As climate change intensifies, dangerous weather events become more frequent or severe. Climate change can have a dire impact on our health, ability to grow food, housing, safety, and work. Addressing climate change is therefore essential to improve our lives and preserve the environment. Moreover, many climate change solutions can deliver economic benefits.
In particular, we expect our Suppliers to consider how climate-related issues can impact their business continuity, their financial stability, and to fulfil the public commitments made on transitioning to low-carbon business activities.
Privacy & Digital Security
We expect Suppliers to comply with all applicable data privacy laws and regulations when identifying or processing personal information of PensionBee, PensionBee’s employees and customers.
The Company reserves the right to amend this policy at any time
Last edited: 26-09-2023