PensionBee’s assets under administration (AUA) increased by 37 per cent to £8.6bn in the first half of 2026, as the retirement savings provider reported a 40 per cent rise in group revenue.

The company’s interim results for the six months to 30 June 2026 showed group AUA rising from £6.3bn a year earlier, supported by net flows of £493m, up from £423m in the first half of 2025, alongside positive market movements.

Gross inflows increased by 25 per cent to £865m, while gross outflows rose to £372m from £266m.

Of total net flows, £372m came from new customers, up from £312m, while £121m was generated by existing customers, compared with £111m a year earlier.

PensionBee’s invested customer base increased by 14 per cent to 327,000, from 286,000, while its customer retention rate remained above 95 per cent and its value retention rate remained above 100 per cent.

Group revenue rose 40 per cent to £26.4m, from £18.9m, while annual run-rate revenue also increased by 40 per cent to £55.8m.

PensionBee CEO, Romi Savova, commented on the results: “PensionBee delivered strong operational and financial performance in the first half of the year.

“We grew our customer base to 327,000, highlighting the continued resonance of our customer proposition with the mass market.”

Savova highlighted the growth in AUA, revenue and net flows, adding that the company had delivered increased profitability in the UK and across the group over the past year.

In the UK, PensionBee increased marketing expenditure by 24 per cent to £9.4m, helping grow brand awareness to reach a record 62 per cent, up from 59 per cent.

Indeed, it acquired around 22,000 UK-invested customers during the half, compared with 21,000 a year earlier, while UK gross inflows rose 25 per cent to £864m.

PensionBee also noted that continued investment in artificial intelligence (AI) and automation had improved operational efficiency.

Its AI-powered customer service assistant, BeeBot, now resolves more than half of the live chats it handles, while the number of invested customers per UK staff member increased by 17 per cent to 1,747, from 1,489.

Meanwhile, the company recorded a pre-tax loss of £2.9m, an improvement from the £5.1m loss in the first half of 2025.

However, profit after tax was £8.2m, compared with a £5.1m loss a year earlier, following the first-time recognition of an £11.5m deferred tax asset relating primarily to carried-forward trading losses.

Looking ahead, PensionBee reiterated its targets of exceeding £100m in group revenue and reaching an adjusted EBITDA margin of around 20 per cent by the end of 2029.

It is targeting more than £250m in group revenue and an adjusted EBITDA margin of around 50 per cent by the end of 2034.

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