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Online pension provider PensionBee announces US expansion plan | Fintech InShorts: Latest fintech news, analysis by experts

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Online pension provider PensionBee announces US expansion plan

By Laura M

March 5, 2024

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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