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Associated Press
28-05-2025
- Business
- Associated Press
PensionBee Launches SEP IRAs To Include Non-Traditional Retirement Savers
NEW YORK--(BUSINESS WIRE)--May 28, 2025-- PensionBee, a leading online retirement provider, announced today the launch of Simplified Employee Pension (SEP) IRAs in its digital platform. This offering provides a best-in-class retirement solution designed for self-employed individuals. The launch comes at a critical time as the gig economy continues its rapid expansion. By 2025, gig workers are expected to make up nearly 50% of the U.S. workforce. This structural shift in employment patterns has created an urgent need for retirement solutions tailored to non-traditional workers, as traditional employer-sponsored retirement benefits become inaccessible to a growing segment of the workforce. Self-employed Americans consistently report lower levels of retirement preparedness. Only about 13% of self-employed individuals in single-person businesses participate in retirement plans, compared to nearly 72% of traditional employees. Fewer take advantage of SEP IRAs, highlighting a significant opportunity gap. 'Pursuing your passions should not come at the expense of future retirement security,' said Romi Savova, CEO of PensionBee. 'The addition of SEP IRAs to our platform allows us to empower self-employed Americans who may not have access to traditional retirement plans. Everyone deserves to plan for and enjoy a happy retirement.' Unlike traditional employees, self-employed Americans lack access to employer-sponsored retirement plans, automatic enrollment, and employer matching contributions that typically boost retirement readiness. This structural disadvantage affects millions of entrepreneurs and independent contractors who represent a growing segment of the American workforce. In response, self-employed individuals are more likely to claim Social Security early, potentially reducing lifetime retirement income. Beyond individual benefits, PensionBee's SEP IRA offering addresses a critical economic need. Small businesses represent over 99% of all U.S. businesses and create approximately two-thirds of new jobs. Despite this, reports show that one in five small business owners don't have any retirement savings, and the majority have saved less than $50,000. By providing modern retirement solutions for single business owners, PensionBee not only supports individual financial security but strengthens the economic foundation of American entrepreneurship. PensionBee's SEP IRA allows individual account owners to contribute up to 25% of their income, significantly higher than Traditional IRA limits, creating a powerful vehicle for retirement wealth accumulation. This higher contribution ceiling enables entrepreneurs to make up for periods of variable income and accelerate their retirement savings during profitable years. PensionBee's SEP IRA offers a complete solution for self-employed individuals: The SEP IRA offering is available immediately to all self-employed individuals and single business owners. PensionBee users can begin the setup process now with dedicated BeeKeepers available to guide them through account creation. The addition of SEP IRAs represents a significant milestone in PensionBee's mission to democratize retirement planning for all Americans, regardless of employment status. The company plans to continue expanding its offerings to address the evolving needs of today's diverse workforce, with additional features and educational resources specifically designed for self-employed savers planned for later this year. PensionBee's SEP IRA is the latest addition to a robust offering of retirement account types, including Traditional, Roth and Safe Harbor IRAs. For more information about PensionBee's SEP IRA offering, visit View source version on CONTACT: Media Contact: Adela McVicar [email protected] KEYWORD: NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: PROFESSIONAL SERVICES BUSINESS APPS/APPLICATIONS TECHNOLOGY SOFTWARE FINANCE INTERNET SOURCE: PensionBee Copyright Business Wire 2025. PUB: 05/28/2025 09:14 AM/DISC: 05/28/2025 09:13 AM
South China Morning Post
22-05-2025
- Business
- South China Morning Post
Keeta riders stage third strike in Hong Kong over fairer pay, work conditions
Dozens of riders from major Hong Kong food delivery platform Keeta have staged a protest across parts of Central's bustling streets, demanding better and fairer pay. Thursday's protest is the third by Keeta riders in May, after smaller-scale strikes took place in Tsuen Wan and Mei Foo earlier this month. 'The lowest pay for a single order could be HK$5 [60 US cents], even if we are on bikes,' 24-year-old Pakistani courier, Raja Kashif Ali Khan, told the Post. 'What happens to us is on us,' Kashif said as he complained about the lack of rider support from Keeta if they get into accidents. A group of seven to eight drivers gathered under the footbridge at Gage Street around noon. Another group of four to five drivers with protest placards placed on their windscreens drove in the area around Lyndhurst Terrace around the same time. During lunch time, around two dozen Keeta riders drove in unison past Lyndhust Terrace a few times. 'We are striking and nobody is delivering here in Central today,' one of the drivers said as he asked other Keeta couriers to join the strike.
Entrepreneur
08-05-2025
- Business
- Entrepreneur
Porter Closes Series F Funding Round led by Kedaara Capital and Wellington Management
With the fresh capital, the company is set to expand operations across multiple cities, with the goal of serving millions of MSMEs and enabling livelihood opportunities for over 1 million gig workers. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Porter, the on-demand Goods Transport Agency (GTA), has announced its Series F funding round led by Kedaara Capital and Wellington Management, along with existing investor, Vitruvian Partners. The round included a mix of primary investment in the company and secondary exits to a few existing shareholders. The company said, with the fresh capital, the company is set to expand operations across multiple cities, with the goal of serving millions of MSMEs and enabling livelihood opportunities for over 1 million gig workers. Porter also plans to channel the capital into team expansion, technological development, and operational excellence, while continuing to build a greener logistics network aligned with national decarbonization efforts. Uttam Digga, Co-Founder & CEO, Porter, said, "We are pleased to welcome Kedaara Capital and Wellington Management as our strategic partners. Since our inception, we have been committed to making urban logistics more efficient, intelligent, and inclusive, supporting MSMEs, empowering gig workers, and strengthening the communities we serve. With this, we look forward to accelerating our growth and building world-class, sustainable logistics solutions for businesses and communities across the globe. "We would also like to acknowledge our early investors who played a pivotal role in supporting Porter's growth journey, and we are deeply grateful for their unwavering support, guidance, and belief in our vision throughout this transformative period," said Digga. Anant Gupta, Partner, and Ashutosh Sardesai, Director at Kedaara Capital, said, "We are excited to partner with Porter, the undisputed leader in India's intra-city logistics space. In a largely unorganized and underserved market, Porter has built a tech-first, asset-light platform that delivers seamless, reliable logistics solutions at scale. Their strong execution, deep market understanding, and unwavering focus on customer and partner experience have created significant network advantages. We look forward to supporting Uttam, Pranav, and the entire Porter team as they continue to drive innovation, empower driver-partners, and expand their leadership across India's intra-city logistics ecosystem." Prakhar Singh, Asia Sector Lead, Wellington Management, added, "We admire Porter's resilience and execution-first mindset, which has helped them create their leadership position in the intra-city logistics space. What sets them apart is how deeply they're embedded in the ecosystem, organizing a largely unstructured market from within, using technology to create meaningful impact for MSMEs and gig workers. We're excited to partner with them as they scale their purpose." Shailesh Lakhani, MD, Peak XV, said, "When our journey started with Porter 10 years ago, the company was one amongst many in local goods transport. Uttam, Pranav, and Vikas were clear on their vision and approach and why it was the right one. Today, the company is the market leader, and more importantly, has made the process of sending goods reliable, more efficient, and transparent in cities in India and now abroad. In the journey, their name has become a ver,b and to say ''I am Portering it" means the goods will be there soon. We wish the company and their new partners all the best and thank the Company and the management for the partnership." IndigoEdge acted as the exclusive financial advisor to Porter on this transaction.
