Pensions - Articles - Average pension transfer takes 11 days in busy tax year end

 Simple transfers relate to a company’s performance when they have more control over the process for relatively straightforward pension assets moving away from their business.

 The figures for the 12-month period from April 1, 2024, to March 31, 2025, remain close to the 10.5 days previously recorded at the end of last December, before the industry headed into the crucial final few months of the fiscal year.

 Meanwhile transfer volumes and values were significant for the OTI group over the period, reaching 1.4m with a value of over £57bn. And the overall pension transfer time, allowing for slightly more complex transfers where providers may need to rely on third parties for additional information, came in at 12.7 days.

 Those firms which publish their transfer times as part of the Origo Transfer Index make up 90% of all completed transfers in the 12-month period from April 1 2024 to March 31 2025. The transfer service provided by Origo accounts for over 80% of all Defined Contribution pension transfers in the UK market.

 Anthony Rafferty, CEO of Origo says: “Tax year end is typically the busiest time of year for advisers, clients and providers alike, reflected by rising transfer volumes and pension transfer values over the period. Against this backdrop, we can see why pension transfer times have crept up that little bit in recent months but we would expect these to drop back down now that this busy period is behind us. Overall this is still good news for consumers who are mostly having their pensions transferred in close to 10 days and as an industry we should feel proud of that.”