Zurich has announced that it has signed up to the recently published TeX standards for pension re-registration transfers - making it among the first firms to adopt the guidelines developed by the industry to simplify the process.
This enhanced automation will increase overall efficiency, benefitting advisers and their customers by reducing the time it takes for pension re-registration transfers to complete to just two weeks.
The extension of this offering to cover pensions follows Zurich’s earlier announcement that Origo has been selected as its chosen provider for automatic re-registration – initially covering the transfer of funds in ISAs and Investment Accounts.
Alistair Wilson, Zurich's Head of Retail Platform Strategy said:
"We’re proud to be leading the way with adopting TeX for pensions re-registration. This is another important step in showing our commitment to the intermediary market and the importance we place on helping advisers do business more easily.
"This latest enhancement, alongside our existing Origo solutions will give our advisers access to a full product suite for placing re-registration or cash transfers onto our platform".
Jeffrey Mushens, TeX Finance Director commented:
"TeX is now the standard for re-registration of funds and stocks and shares ISAs, with over 90% coverage among fund managers and platforms. Due to industry demand the scope of TeX was expanded to include pensions, and we're very pleased to see firms like Zurich lead the way in this important market."
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