Women in Finance Charter
A PensionBee pledge for gender balance across financial services - and pensions
What is it?
The Women in Finance Charter is a commitment by HM Treasury and more than 270 signatory firms to work together to build a more balanced and fair financial industry. Firms that sign up to this Charter are pledging to be the best businesses in this sector!
Why it matters
PensionBee believes that senior management teams should reflect the gender balance of the UK population.
Historically, the pensions industry has struggled to engage savers in long term savings, in part due to a lack of diversity in senior management.
Diverse management teams lead not only to better results for customers, but also to the development of pension products and services that truly meet the needs of wider society.
PensionBee is working hard to change the industry
The diversity we strive for in our company is key to helping us make pensions engaging and accessible to a broader range of people in the UK. Fresh thinking from a diversity of minds, drives new approaches and innovative new solutions to a problem we all face. If we don’t fix the lack of engagement with pensions in the UK, then in the long-term, we all lose.
PensionBee are determined to change this and be the pensions company that truly represents and acts in the interest of wider UK society.
That’s why we believe that gender balance across senior levels of the pensions industry is crucial. It will help drive a happier, healthier, more prosperous UK society!
PensionBee's commitment to the Charter
PensionBee are very proud to announce that for the 2018 - 2019 period we’ve increased female representation on our senior management team to 60%.
That’s an increase from 50% representation in the 2017 – 2018 period.
This means that we’ve safely maintained, and are on track to maintain, our target of 50% female representation on the senior management team as we head towards 2021. In addition, a bonus-related target for all the members of that team is to maintain these numbers but also actively seek to recruit females into roles that traditionally do not have gender diversity, such as developers and other tech roles.
Here’s our Charter pledges:
Maintaining at least 50% gender diversity in our senior management team through to 2021;
Publishing progress annually against this target on our website;
Having a member of our senior executive team who is responsible and accountable for gender diversity and inclusion;
Having an intention to ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity.
Here’s how we intend to achieve our target and promote gender diversity as we grow:
Continue to recruit women who have the potential to reach senior management;
Continue to support career development and progression of women at mid-tier level to senior role;
Actively recruit females into roles that traditionally do not have gender diversity, such as developers and other tech roles;
Develop an inclusive child care / maternity policy that supports women to return to work.
Romi Savova, Founder and CEO of PensionBee, is our nominated member of the senior executive team responsible and accountable for gender diversity and inclusion. “As a female Chief Executive, I am extremely proud to commit our organisation to promoting gender equality in the UK. For far too long, pension products and services have not been representative of our diverse society. Excluding women from financial services is a social and economic failure that every organisation should strive to change!”