Average pension transfer times have reduced just 10 days for the first time in two years, according to the the Origo Transfer Index (OTI).
This data, while over the 12 months from 1 April 2025, relates to simple pension transfers. The last time transfer times fell below this level was during Summer 2024 when they hit 9.8 and 9.9 days in June and September respectively, before ticking up again, to reach a maximum of 11 days since.
The overall pension transfer time for the period also came in at just 11 days exactly, which is also an improvement on the 11.4 days recorded previously.
In total 1.8 million transfers were completed across the Origo Transfer Index over the 12-month period, increasing from 1.7 million previously. Meanwhile, the combined value of transfers also reached £78.6 billion, up from approximately £75 billion in 2025.
Origo CEO Anthony Rafferty says these improvements reflect the “continuing efforts” of the industry, at a time the range and number of transfer types providers are handling is increasing. He adds: “As we look ahead, there are a number of regulatory and market developments on the horizon, including the upcoming changes to IHT rules on pensions. While these may influence customer behaviour over time, the industry must strive to maintain these turnaround times while continuing to deliver quality service to customers during a time of significant change for retirement planning.”
PensionBee chief business officer Lisa Picardo adds: “Whilst it’s positive to see pension transfer times of 10 days for some providers, averages only tell part of the story. These figures primarily reflect providers operating through electronic transfer systems who choose to voluntarily disclose their times – they do not fully capture the experience of savers dealing with paper based processes, where transfers can still take several months.
PensionBee data has previously revealed that some providers and administrators are routinely averaging more than 90 days. Picardo adds: “The continued inefficiency by certain providers and administrators is frustrating for consumers and chips away at the trust they place in the pension system to help them build a secure retirement.”
