
Pension transfer times reach two-year low – Origo Transfer Index
PensionBee said the milestone reflected progress in digital pension transfer processes, although inconsistencies across the market remain.

PensionBee said the milestone reflected progress in digital pension transfer processes, although inconsistencies across the market remain.

The report, commissioned by firms including AJ Bell, Freetrade, Hargreaves Lansdown, Interactive Investor, J.P. Morgan Personal Investing, Moneybox, Monzo, PensionBee and Vanguard, called for the statutory transfer deadline to be reduced from six months to 30 working days.

More complex transfers, which require information from third parties, averaged 11.4 days, compared to 12.3 days the previous year.

The service provides real-time updates on pension transfers, meaning advisers no longer need to contact providers for updates.

TISA urged the FCA to work with the DWP to make sure proposed pension transfer changes are consistent and tested with consumers before final rules are set.

Compensation fell from around -£16,000 in early 2025 to -£41,000 by early 2026.

Lisa Picardo said: “With the deadline fast approaching, this is the last chance for people to sign and help push for a better system that works in the best interests of consumers.”

The provider launched a letter template to help people write to their MPs about transfer delays, following thousands of signatures on its petition for reform.

The petition warns that without urgent change, millions of savers will continue to face long waits, while weak providers benefit from delays and confusion.

Research found 63% of people believed delays were stopping them from managing their retirement savings properly.

Research showed that satisfaction dropped to 64% for those in households earning less than £50,000.

The report found some pension transfers took less than seven working days, but others dragged on for months or even years.
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