London-based online pension provider PensionBee has been accredited by the Living Wage Foundation.
As of February 2020, the organisation has committed to paying its 100 employees at least the living wage, which currently stands at £10.75 per hour in London. PensionBee joins nearly 6,000 employers in making this pledge, including Aviva, Nationwide and Oxfam.
This commitment is part of PensionBee’s aim to promote equal opportunities; in 2019, it signed the Women in Finance Charter and supported ABI’s Transparent Parental Leave and Pay Initiative. With this accreditation, PensionBee hopes to encourage people who have not considered it before to enter the pensions industry.
Emily Tribe, head of talent at PensionBee, said: “We believe everyone deserves a wage that is enough to live on, yet only 30% of FTSE [employers] currently pay this. We’re committed to challenging perceptions of the pensions industry.
“Most importantly, we want to encourage more young people to explore a career in pensions and are committed to implementing at least the recommended increases every January to ensure our staff can afford to live and work in London happily.”
Katherine Chapman, director at the Living Wage Foundation, said: “We welcome Pension Bee to the Living Wage movement as an accredited employer. Responsible businesses across the UK are voluntarily signing up to pay the real Living wage now.”
“The real Living Wage rate is calculated annually to reflect the real cost of living. There are now over 6,000 UK employers who together want to go further than the government minimum to make sure all their staff earn enough to live on. Accredited Living Wage employers include small businesses to large household names like Aviva, Chelsea, Everton Football Club, Heathrow Airport and KPMG.”