In 2014, after struggling with her own pension transfer, Romi Savova set out to simplify retirement savings in the UK. That idea came to life in the form of
PensionBee, a digital pension provider which allows users to consolidate pensions into a single, easy-to-manage account.
What started as a mission to make pensions easier to understand, manage and trust quickly grew into one of the country’s most recognised digital pension brands.
Yet the need to simplify pensions isn’t limited to the UK. It’s a universal challenge. That’s why in July 2024, PensionBee took its first major step outside the UK and launched in the US.
But expanding into a new market requires more than simply opening a new office as it also demands an overhaul to the marketing strategy.
Retirement systems, consumer expectations and even the way pensions are perceived differ dramatically between the two countries.
Therefore, Jasper Martens, group chief marketing officer at PensionBee UK, had to adopt a new mindset. Marketing had to be adapted not only for a new region but also for a wide range of audiences.
Cracking the US retirement market
While PensionBee’s expansion into the US marks a major step for the business, its underlying mission remains the same to give people clarity and control over their retirement by cutting through complexity and making pensions easier to understand, manage and trust.
What changes is the environment in which that mission has to be communicated. Launching in the US isn’t just about replicating what worked in the UK. The retirement market is structurally different, consumers are less familiar with pensions, and complexity and mistrust run deep.
“In the UK account consolidation into a personal pension is becoming a common thing to do. In the US, a lot of workers don’t have a pension and there are complex products and rules, worse than in the UK!” Martens says.
“I would argue the retirement market in the US is harder and there are a lot of junk products and fees, combined with confusion.”
Many American consumers are wary of providers that overcomplicate products, hide fees or funnel savers into poorly performing investments that gradually erode their retirement pots.
For marketers, this means education becomes just as important as promotion. In a market dominated by confusion, campaigns must emphasise reassurance and simplicity.
Scale adds another layer of complexity because the US isn’t a single, homogenous market. Time zones, regional wealth disparities and varying consumer perceptions all shape how messages land.
“The US is massive, you have to focus on a certain area to build up a brand and to acquire customers. Just the sheer size means various time zones, opening hours but also consumer perception differences. You have poorer states and more wealthier states which impacts people’s retirement pots,” he notes.
Adapting to a different audience
Understanding the differences between the UK and US retirement markets is one thing. Turning that insight into action is another. The first challenge is the gap in brand maturity between the two regions.
“In the UK we are a more mature known brand with 70% prompted brand awareness, in the US it is single digits, which means the way you market is completely different,” he says.
To address the fact that PensionBee is essentially operating as a startup in the US, Martens notes that it is leaning more heavily on its underlying investment partner State Street, a well known US brand, to boost trust amongst its first customers.
There are also practical differences to navigate. In the US, retirement savings often look different, with “pensions” typically referring to rare guaranteed plans, while most people save through other accounts like 401(k)s or IRAs.
On top of that, it’s relatively easy to access funds before retirement age. As a result, much of PensionBee’s messaging in the US is focused on encouraging people to keep their money invested for the long term, Martens explains.
“We also have to convince people to keep their money invested,” he says. “There is a big retirement crisis looming in the US. Thanks to auto enrolment and no withdrawal before your retirement age, UK savers actually have savings for later.”
The general rule of thumb with messaging is it needs to be less subtle with Americans, he adds. Therefore, campaign messages are much bolder and more direct, with a greater sense of urgency in the US compared to the UK.
Meanwhile, the uneven retirement savings landscape and the challenges of operating at scale mean PensionBee has to be much more selective in how it reaches its audiences.
“In the UK most people will have retirement savings in any form or shape and therefore we can use mass market marketing channels to reach them,” he notes.
“In the US, not everyone has their 401(k)s, IRA’s, Roth IRAs or SEP IRAs which means we use a more targeted approach to reach relevant audiences.”
Content for every stage of retirement
Adapting marketing across regions is just part of the challenge. Martens also tailors PensionBee’s approach to different customer needs, from young savers to those nearing retirement, with messaging reflecting each group’s engagement.
“Based on demographics but also on how you interact with our product, we will serve you different educational content and planning tools,” he says. “We offer a different default product for the under 50s than for the over 50s and there are many ways we tailor your PensionBee experience around your retirement needs.”
Content plays a key role in this strategy, with PensionBee’s ‘The Pension Confident Podcast’ serving as a central tool for reaching multiple customer segments.
“The Pension Confident Podcast is a strategic content marketing asset that builds brand awareness, establishes thought leadership, educates prospects and customers across our customer segments, and reinforces our unique positioning as the accessible, transparent, customer-first pension provider. It’s content-led growth at scale,” Martens explains.
He notes the podcast’s topics are carefully chosen to resonate with different groups. For example, younger professionals face episodes like “Can you afford to have kids?”, ESG-conscious savers can explore “Is my pension funding climate change?” and pre-retirees are offered “Who wants to be a pension millionaire?”
Meanwhile, self-employed workers benefit from bonus episodes on personal finance for freelancers and those going through divorce can access episodes on managing divorce costs.
By combining demographic targeting, tailored content and planning tools, PensionBee ensures guidance fits each customer’s situation. This focus on individual needs – from age to circumstance and region – enables the provider to turn its mission of clarity and control into a tangible experience for every saver.
Financial marketers and communications leaders who have delivered standout work in the US market are encouraged to enter the Financial Promoter Awards USA 2026, entries open until 10 April.
This story appeared in Issue 15 of the Financial Promoter magazine. To be one of the first to read it, subscribe here: Subscribe – Financial Promoter