PensionBee and SS&C Unite to Enhance Retirement Savings Options

PensionBee and SS&C Partner for Retirement Savings Innovation

PensionBee, a prominent online retirement provider, has teamed up with SS&C Technologies to unveil a new Safe Harbor IRA catering to employers and their former employees. This groundbreaking partnership is set to revolutionize the way retirement funds are managed and rolled over by utilizing SS&C’s Automated Rollover Program (ARP) for a smoother transition.

PensionBee’s Significant Market Entry

Founded in 2014, PensionBee has rapidly expanded its footprint and now manages over $7 billion in retirement assets for more than 265,000 clients globally. The company's recent launch in the U.S. marks a significant step in bringing their award-winning technology and customer-centric approach to American savers. PensionBee focuses on serving mass-market consumers, especially those with retirement savings under $100,000, an often underserved segment in the retirement planning world.

Unique Features of PensionBee's Safe Harbor IRA

What sets PensionBee apart in the competitive Safe Harbor IRA landscape? Here are several key features:

User-Friendly Digital Experience

PensionBee provides an intuitive digital platform accessible via the web and an easy-to-use mobile application, making it simple for users to manage their retirement savings effectively.

Top-Notch Investment Opportunities

The company utilizes State Street’s SPDR T-Bill ETF (BIL), a highly regarded and liquid Treasury instrument, ensuring customers benefit from the best possible investment options available.

Transparent Fee Structure

PensionBee offers a competitive fee structure, designed to prioritize the growth of savings for its users, making retirement more accessible.

Dedicated Customer Support

Each customer is paired with a personalized “BeeKeeper,” ensuring tailored support for individual retirement needs and enhancing the overall customer experience.

Informative Educational Tools

To empower users, PensionBee provides an array of educational resources that aid consumers in making informed financial decisions regarding their retirement.

PensionBee’s Commitment to Former Employees

The Safe Harbor IRA aims to provide former employees with a stable and beneficial environment for their retirement savings. Additionally, PensionBee collaborates with State Street to offer an exclusive range of Model Portfolios, including a highly regarded Target Date Portfolio. This initiative helps consumers transition smoothly back into long-term retirement investing.

Efficiency Through SS&C’s ARP

SS&C’s Automated Rollover Program (ARP) automates and simplifies the mandatory rollover process for HR teams and plan sponsors. This innovation allows for seamless participant data exchanges between recordkeepers and Safe Harbor IRA providers like PensionBee, ensuring that former employees are swiftly connected to their retirement funds. The efficiency of this program is evidenced by its use across more than 120,000 plans administered by over 20 recordkeepers and third-party opportunities.

About PensionBee

PensionBee stands out as a leading online retirement provider, dedicated to enabling individuals to consolidate, manage, and grow their retirement savings with ease. With over $7 billion in assets under management, the company remains committed to delivering simplicity, transparency, and accessibility in retirement planning.

About SS&C Technologies

SS&C is an internationally renowned provider of software and services catering to the financial services and healthcare sectors. Established in 1986, SS&C is based in Windsor, Connecticut, and operates globally. They are trusted by over 20,000 organizations, ranging from leading corporations to small firms, for their deep expertise, scalable solutions, and cutting-edge technology.

Frequently Asked Questions

What is the purpose of the new Safe Harbor IRA?

The Safe Harbor IRA is designed to provide a secure and beneficial environment for former employees to roll over their retirement savings to ensure continuity and growth.

How does PensionBee differentiate itself in the market?

PensionBee's unique approach includes an intuitive digital platform, competitive fee structure, personalized customer service, and dedicated educational resources aimed at mass-market consumers.

What advantages does the SS&C partnership provide?

The partnership with SS&C enhances the efficiency of the rollover process through automation, allowing quicker reconnection of former employees to their retirement savings.

What investment options are available through PensionBee?

PensionBee utilizes State Street’s SPDR T-Bill ETF (BIL), along with a range of curated Model Portfolios, including a Target Date Portfolio, to maximize investment potential.

How can customers benefit from educational resources?

PensionBee offers comprehensive educational tools that empower consumers to make informed decisions about managing their retirement savings effectively.

About The Author

My name is Dylan Bailey, and I am 28 years old. I am an author and an expert on the stock market who specializes in publicly traded companies. Early fascination with the stock market inspired me to seek a finance degree and then delve deeply into the world of stocks. I have developed over the years my abilities to spot investment prospects, assess business performance, and analyze market trends.

My books and articles try to help regular investors understand the nuances of the stock market. Anyone can, in my opinion, make wise investment choices and succeed financially if they have the correct information and resources. In my writing, I combine in-depth research with practical insights and advice that can be put into action. This is done with the intention of assisting readers in navigating the constantly shifting landscape of publicly traded companies.

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