General Insurance Article - Vanguard joins Origo Transfer Index

Vanguard is the latest company to join the Origo Transfer Index (OTI), the voluntary index set up by Origo to increase transparency in the transfer market and help improve industry performance and customer outcomes.

 Vanguard latest provider to join Origo Transfer Index bringing total to 28
 Latest average pension transfer times published
 Vanguard’s participation brings the total number of providers and platforms publishing via the OTI to 28, who collectively account for 80% of all completed transfers through the Origo Transfer Service.

 The Index, produced on a quarterly basis and showing average times over the previous 12 months through the Origo Transfer Service, aims to improve customer outcomes by providing an industry benchmark for average times taken to transfer a pension to another provider, against which companies can compare their own transfer performance.

 Anthony Rafferty, CEO, Origo, says: “We are delighted that Vanguard has joined the Origo Transfer Index. We now have a significant number of platforms and providers openly publishing their data through the Index, including most of the leading providers in the market.

 “The more participants that engage with the index the better it is for the industry and for customers, as it provides an overall industry benchmark against which providers and platforms can measure their performance and where they may be able to improve the standard of service for consumers.”

 This quarter the average time for transfer across the 28 participants was 10.9 calendar days for simpler transfers (i.e. where the provider has complete control over the transfer process) and 13.2 calendar days for overall transfers (where the provider may or may not have control over the entire process).

 NFU Mutual has consistently been the best performer in 2021; this quarter averaging 6.1 days overall for transfers, and 4.6 days for simpler transfers.

 Seven providers improved their yearly average performance from Q2 to Q3 2021: Fidelity, Forester Life, Hargreaves Lansdown, Legal and General, LV=, NFU Mutual and Parmenion.

Back to Index

Similar News to this Story

Cyber underwriters should view GoDaddy attack as a warning
A Single Point of Failure (SPoF) cyber attack such as the one currently affecting web-hosting firm GoDaddy represents one of the most likely ways the
Appetite for credit insurance grows in Western Europe
Trade credit insurer Atradius has published 2021’s annual Payment Practices Barometer Survey Results for Western Europe. Denmark had the highest perc
Managing Agents aim to increase their commitment to Lloyds
Aon have announced the launch of a new report summarizing the findings of its 2021 survey of Lloyd’s managing agents’ Chief Financial Officers.

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.