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Online pension provider PensionBee announces US expansion plan

  • UK-based online pension provider PensionBee is set to expand into the US market through an exclusive, non-binding term sheet with an unnamed US financial organization.
  • The move is considered a “transformative step” for PensionBee, aiming to match or exceed the scale of its UK business in the US-defined contribution pension market.
  • The expansion will allow US customers to consolidate and transfer their employer-sponsored defined contribution retirement plans into a new Individual Retirement Account (IRA).
  • The deal is expected to be completed in late 2024, subject to regulatory approvals, with PensionBee Inc. established in Delaware and headquartered in New York.
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Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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