UK’s PensionBee Set to Expand Into US Markets

Snapshot: PensionBee, a UK-based online pension provider, is set to expand into the US Defined Contribution pension market with the support of a large US financial institution, which will provide additional expertise and ‘substantial’ marketing funding. The move as a transformative step for the company, leveraging its customer proposition, technology platform, and marketing strategies in the US. The US service will be delivered through PensionBee Inc, a wholly-owned subsidiary of PensionBee Group plc, with operations based in New York and an expected launch in late 2024. The potential growth in the US market is significant, with PensionBee aiming to replicate its success and profitability achieved in the UK. 

Key quote: "By entering the world’s largest Defined Contribution pension market, where many consumers still struggle to prepare adequately for retirement amidst an array of confusing and difficult-to-use investment options, our straightforward approach to online retirement savings will help millions of consumers look forward to a happy retirement.” Romi Savova, CEO, PensionBee

FINEXTRA - PensionBee announcement