London, 12 February 2020: PensionBee is pleased to announce it has become a Living Wage Employer accredited by the Living Wage Foundation.
PensionBee, the UK’s leading online pension provider, has become an accredited Living Wage Employer, furthering its mission to champion diversity and representation in the pensions industry.
It has committed to pay its 100-strong staff at least the Living Wage, which is currently £10.75 per hour in London, where it is based. The Living Wage is calculated annually by the Resolution Foundation and overseen by the Living Wage Commission, based on the best available evidence about living standards in London and the UK.
The accreditation reinforces PensionBee’s position as an equal opportunity employer, and follows its commitment to improving gender diversity in the workplace as a signatory to HM Treasury’s Women in Finance Charter, and its recent support of the ABI’s Transparent Parental Leave and Pay Initiative.
Since its inception in 2014, PensionBee has achieved complete gender parity and almost 40% BME representation. It hopes this accreditation will encourage people, who may not otherwise have done so, to enter the pensions industry.
Emily Tribe, Head of Talent at PensionBee, said: “We believe everyone deserves a wage that is enough to live on, yet only 30% of FTSE companies currently pay this. We’re committed to challenging perceptions of the pensions industry. Most importantly, we want to encourage more young people to explore a career in pensions and are committed to implementing at least the recommended increases every January to ensure our staff can afford to live and work in London happily.”