Pension savers are being urged to act now as the clock ticks on a parliamentary petition designed to stop unnecessary delays when people seek to move their pensions and take control of their retirement.
With its petition closing on 24 January 2026, PensionBee, a leading online retirement savings provider, is warning that this is the final opportunity for savers to add their names and ensure policymakers hear first-hand how slow pension transfers are holding people back from taking control of their retirement savings. With the petition having received support from 9,000 members of the public across the UK already, another 1,000 signatures will ensure that the government has to respond.
Despite the UK’s pensions industry becoming increasingly digital, many savers still face transfer times stretching into multiple weeks, months or even years. PensionBee’s research has consistently found that long delays remain a major source of frustration, creating uncertainty, stress and disengagement at a time when people should feel empowered to manage their money.
The petition forms part of PensionBee’s wider campaign to improve pension transfers for savers in the UK, including the call for changes to:
- Mandate digital transfers across all pension schemes
- Introduce a 10-day Pension Switch Guarantee
- Require providers to publish their transfer performance data
- Fix the pension transfer scams legislation
- Reduce the statutory six month transfer deadline
A 10-day Pension Switch Guarantee would introduce a clear, time-bound standard for straight-forward pension transfers, helping to modernise the system and deliver a better experience for consumers.
PensionBee is calling on savers, industry stakeholders and policymakers to work together to remove unnecessary friction from pension transfers and help ensure the system keeps pace with consumer expectations.
Lisa Picardo, Chief Business Officer UK at PensionBee, said: “Too many people are still left in limbo when they try to move their pension and take control of their retirement. In a world where switching bank accounts can take days, pension transfers that drag on for months simply don’t make any sense.
“This petition is about giving savers a voice and showing there is strong public support for a faster, fairer system. With the deadline fast approaching, this is the last chance for people to sign and help push for a better system that works in the best interests of consumers.”
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