PensionBee’s gender pay gap falls to 1.6%

PensionBee has revealed that its median hourly gender pay gap among its staff was 1.6 per cent, while its median bonus pay gap was 0 per cent, as at 31 December 2021.

This represented an improvement on the median gender pay gap from its previous report, with PensionBee’s pay gap previously being 4 per cent at December 2020.

The provider’s median bonus pay gap remained at 0 per cent from its 2020 report.

The gap from its 2021 report was in line with PensionBee’s target of 0 per cent with a variance of +/- 5 per cent.

PensionBee said that it regularly reports on its female representation as a member of the Women in Finance Charter, which seeks to achieve gender balance at all levels across financial services firms.

It also reported having “achieved complete gender parity at a company-wide level and actively recruits females into traditionally male-dominated positions” whilst remaining focused on promoting women to the higher echelons of the organisation, such as the management team.

PensionBee CEO, Romi Savova, commented: “The gender pay gap is almost exclusively framed as an issue women should be solving themselves. The message I consistently hear is that women need to do more, however, placing the burden on the recipient of the problem is neither effective nor fair.

“At PensionBee, we passionately believe that men and women should be paid equally for equal work and have found from our own research that this is the only effective solution to eradicate the gender pension gap once and for all. That’s why we have committed to voluntarily tracking these figures as early as possible, so if necessary, changes are easier to make.

“I’m immensely proud of the level of diversity we’ve achieved in the company so far and I have no doubt there’s a direct correlation to our low gender pay gap.”

The online pension provider also recognises non-binary identities and has incorporated this into its regular measurement of and action on diversity and inclusion.

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