Data from PensionBee has shown that the slowest pension providers and administrators are taking up to 18 times longer to transfer savers’ money than the fastest.
Analysis of average transfer-in times from 35 major pension providers and administrators across the UK to PensionBee for 2025, found that while the fastest completed transfers took just five days, the slowest – including XPS Administration, LGPS and Capita – took between 47 and 90 days, leaving retirement savers routinely waiting months just to move their own money.
The overall industry average transfer time remained broadly unchanged at 23 days in 2025 as compared to 21 days in 2024. According to PensionBee, this was largely driven by the top 20 providers or administrators either improving or holding steady their transfer times, demonstrating that efficient pension transfers are achievable at scale when providers prioritise customer experience and embrace digital processes.
Lisa Picardo, the UK chief business officer at PensionBee, said: “Whilst we’re encouraged to see more firms embracing digital and delivering real improvements, the progress is mixed. The providers languishing at the bottom of the table may be failing to invest and modernise, adopting ‘sludge practices’ that serve as a blocker for consumers seeking to engage, or a combination of both. Regardless, leaving savers’ pensions stuck and out of sight for months on end is simply not acceptable.”
PensionBee’s parliamentary petition calling for Government action gained over 16,500 signatures, drawing an official response confirming that the DWP is planning to consult on the outcome of this work in the coming months.
Capita and XPS have been contacted for comment.
Table 1: UK pension provider average transfer times year-on-year comparison
