April saw us launch a refreshed version of our environmental, social and corporate governance (ESG) page. It describes our commitment to driving positive change with respect to environmental issues, our customers, workforce and society generally. In this month’s post, we also focus on our Pension Statistics Dashboard. It’s a one-stop location for key pension figures and data that can help you plan and adjust for life in retirement.
Our refreshed ESG page
As a leading UK pension provider, we’re conscious of using our influence to help build a better future for our customers, society and the planet. We recognise our responsibility in how we operate in our ESG practices. These include limiting our environmental impact and striving for equal gender representation at every level of our business, amongst others. You’ll also find links to our specific policies to learn more about our approach to each.
Environmental
Our concern for the future of the climate is something we share with many of our customers. Their feedback has shaped our work at PensionBee. It’s played an important role in creating our responsible pension plans, including our Climate Plan, enabling customers to invest more in line with their values. As a business, we’re committed to reducing our greenhouse gas (GHG) emissions with our aim to become net zero. We also work with our money managers to exclude companies from our plans that cause catastrophic harm to the environment or society.
Social
Our social responsibilities extend from our employees and customers to society as a whole. Our updated page now links to our Diversity, Inclusion and Equity policy. This describes our aims and goals in building a team that better reflects and serves a diverse customer base. You’ll also learn our approach to hiring and how we promote these values internally. For example, our industry-leading parental leave policy supports anyone going through the adoption process or IVF and gives additional days of leave to use throughout the year to those returning from parental leave. We’re also active in using our ‘Voting Choice’, empowering us to participate in the voting decisions at the annual general meetings (AGMs) of BlackRock and State Street Global Advisors. Through this, we can reflect the interests of our customers in areas of social and environmental concern and in closing the gender pension gap.
We believe that our approach to inclusivity, diversity and equity in our workplace enables us to better help our customers look forward to a happy retirement.
Governance
PensionBee is committed to the principles of the UK Corporate Governance Code. Key principles include seeking the long-term sustainability of the company and contributing to wider society. It also includes making sure our policies reflect our company values and investing and rewarding our workforce.
Check out our ESG hub where you’ll find our full list of frameworks, policies and reports.
We believe our approach to these areas helps support our values of love, quality, innovation, honesty and simplicity as we look to positively impact our customers, employees and society as a whole.
Pension Statistics Dashboard
We recently launched our Pension Statistics Dashboard, bringing together key pension information. As this is now in one place, it’s faster and more convenient to look up the latest statistics. The dashboard includes facts and figures that could help you plan more effectively for retirement. Additionally, you’ll find statistics that give an overview of the current state of pension saving in the UK.
From the current State Pension age and value to your annual contribution allowance, keeping on top of all the key numbers you need to know about can be difficult. For pension savers, several categories of our dashboard should be particularly helpful in saving and adjusting for life in retirement.
The State Pension data category displays statistics such as the age at which you can claim the State Pension and how much it’s worth. Under the Retirement Living Standards category, you’ll learn about how much income you may need in retirement as a single person or as a couple, and the kind of lifestyle you may be able to afford with it. It’s based on research from the Pensions and Lifetime Savings Association (PLSA) and offers a guide to help you define your savings goals. The pension tax rules and allowances section lists all the key pension savings limits. For example, you’ll find the latest annual allowance figure so you know how much you can save into your pension before you’ll need to pay tax.
As the facts and figures change over time, the dashboard will be updated with the latest information. So, if the annual allowance changes in the next tax year you’ll be able to easily see what that new limit is.
Future product news
Keep your eye out for our next product update blog or catch up on previous posts. We’ve got more great new features in the works which we’re looking forward to bringing you throughout the rest of the year. We’ll let you know what they are, how they can help you save for a happy retirement and how to get started.
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.
