United Kingdom
A 10-working day regulatory standard for pension switches.
Transparent, public reporting of provider performance.
Enforceable consequences when providers routinely miss deadlines.
Better scam protections that don’t sacrifice speed.
Lisa Picardo
Chief Business Officer UK
"Every year, too many pension savers have a difficult experience when trying to take control of their retirement savings - they’re left in limbo, trapped in poor-performing schemes and unable to move their own money. Outdated legislation and poor practices mean it can take months to switch pension provider, even though the technology exists to support swift and efficient transfers. People approaching retirement are left waiting when they need access the most, while others are stuck paying high fees or missing out on the prospect of better investment returns, technology and customer service. In 2025, this simply isn’t good enough. The current system allows bad providers to hold onto customers through red tape, instead of providing good service. The longer we delay reform, the more savers will lose out."
Only the government has the power to change this, so we’re asking them to take action and set clear, enforceable standards for faster, electronic pension transfers.
63% of savers believe delays in pension transfers hinder effective retirement planning. Yet many providers persist with outdated, paper-based processes. At best, this causes stress and confusion. At worst, it deters people from moving their money, trapping them in poor-value, or unsuitable funds.
But there is a better way: Many providers already offer secure, electronic transfers. It’s time to mandate this across the industry for fairer, efficient retirement savings.
A report highlighting some of the best and worst performing companies for pension transfers, with insights from advice professionals.
A report outlining why pension transfers need to be simple, timely and fair for consumers, with insights from savers who struggled to move their savings.
Read Jayne’s frustrating experience of moving an old workplace pension, in a process that took four months.
Read PensionBee research into how pension transfer delays harm consumers, with comments from our Chief Business Officer UK.
A summary of PensionBee research into adviser opinions, highlighting an overwhelming 96% back pension transfer reform.
Explore how PensionBee's research shows high consumer support for simplifying the pension transfer process.
We’d love to hear from you and will compensate you if we publish your story in our campaign materials or in the national media! Email [email protected].
General enquiries: 020 3457 8444
General enquiries: [email protected]
Press: [email protected]
Partners: [email protected]
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General enquiries: 020 3457 8444
General enquiries: [email protected]
Press: [email protected]
Partners: [email protected]
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