By PensionBee

PensionBee is a leading online pension provider in the UK, with a mission to make pensions simple, so that everyone can look forward to a happy retirement. We are a direct-to-consumer financial technology company with approximately 183,000 Invested Customers and £3.0bn of Assets under Administration (‘AUA’) as at 31 December 2022 (2021: 117,000 Invested Customers and  £2.6bn of AUA).

We deliver a leading customer proposition to pension holders in the UK defined contribution pensions market, catering for the mass market of consumers that has often been ignored by the traditional pensions industry. We seek to make our customers ‘Pension Confident’ by providing them with control and clarity, enabling them to interact with their retirement savings through a unique combination of smart technology and dedicated customer service.

Our technology platform allows customers to combine their pensions and invest in a range of online plans, forecast how much they are expected to have saved by the time they retire, and make withdrawals from the age of 55. Our customers rate our service highly, as evidenced by our Excellent Trustpilot score of 4.6★ out of 5 (based on 8,270 reviews), our average app store rating of 4.6 out of 53 and our Customer Retention Rate, which has consistently been 97% (2021: Excellent Trustpilot score of 4.6★ (based on 6,288 reviews), average app store rating of 4.64 and Customer Retention Rate of 97%).

For the year ended 31 December 2022, PensionBee’s Revenue was £17.7m, representing a growth rate of 38% as compared to £12.8m for 2021. Adjusted EBITDA for 2022 was £(19.5)m as compared to £(16.4)m for 2021, with an Adjusted EBITDA Margin of (110)% for 2022 as compared to (129)% for 2021, reflecting continued strong and scalable investment in the Company’s growth. Profit/(Loss) before Tax narrowed to £(22.4)m for 2022 as compared to £(25.0)m for 2021, supported by an improvement of the Adjusted EBITDA Margin.

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