PensionBee revenues surge as assets grow
PensionBee announced a 40% revenue increase for the first half of 2026, bringing earnings to £26.4 million as its assets under administration grew to £8.6 billion.
Assets grow on net inflows and market gains
The retirement savings platform’s assets under administration rose 37% from £6.3 billion the previous year. Net inflows added £493 million, an increase from £423 million in the same period of 2025, while favorable market conditions further lifted the total.
Gross inflows reached £865 million, a 25% rise, though outflows also climbed to £372 million from £266 million. New customers contributed £372 million of net flows, with existing customers providing an additional £121 million.
The platform now serves 327,000 invested customers, up 14% from 286,000 at the end of June 2025. Retention remained strong, with customer retention above 95% and value retention exceeding 100%.
Profitability improves despite higher spending
Annual run-rate revenue matched the 40% growth, reaching £55.8 million. Marketing expenses in the UK increased 24% to £9.4 million, raising brand awareness to 62%. The company gained 22,000 UK-invested customers, a slight rise from 21,000 the prior year.
The pre-tax loss narrowed to £2.9 million, down from £5.1 million in the first half of 2025. After-tax profit turned positive at £8.2 million, reversing a £5.1 million loss the year before, helped by a £11.5 million deferred tax asset from carried-forward trading losses.
Automation helped improve efficiency. The AI-powered assistant, BeeBot, now handles over half of live chats. Invested customers per UK staff member increased 17% to 1,747.
The figures come as the UK’s pension market faces pressure to consolidate. Smaller pots, often abandoned by job changers, have drawn attention from providers. PensionBee focuses on making retirement savings easier for a broad audience. Its ability to expand without a proportional rise in staff suggests a workable model, though long-term stability remains uncertain.
Long-term targets remain ambitious
The company maintained its goal of exceeding £100 million in group revenue by 2029, with an adjusted EBITDA margin near 20%. By 2034, it aims for over £250 million in revenue and a 50% margin.
CEO Romi Savova described the results as strong, citing growth in customers, assets, and earnings. She said the platform’s approach appeals to the mass market, pointing to its 327,000 customers as proof.
Maintaining growth will be the next test. Traditional providers are digitizing their services, and new competitors target the same savers seeking simplicity. For now, PensionBee’s performance shows it remains competitive in the shifting pension funding setting.
