PensionBee, a leading UK consumer pension provider, is urging savers to demand faster pension transfers by calling on their MPs to back urgent reforms.
Thousands have already signed PensionBee’s petition to end lengthy transfer delays. Now, the company is ramping up its campaign by providing a letter template that makes it easy for people to raise the issue directly with their MPs.
Currently, pension transfers can take months to complete, leaving savers’ money locked in underperforming schemes. By contrast, other financial switches, such as bank accounts and utilities, are processed within days.
The launch of the template follows PensionBee’s Ending Pension Purgatory report, which revealed the human impact of drawn-out transfers, and its A Switch in Time analysis, which ranked providers by transfer performance.
Click here to download the letter template and join the campaign.
Lisa Picardo, Chief Business Officer UK at PensionBee, said: “People power works and MPs listen when their constituents speak up about issues that matter to them.
“Our petition has shown there’s real appetite for pension transfer reform, but we need to turn that momentum into political action. This template makes it easy for savers to tell their MP exactly why this matters.
“Every week of delay costs people money and undermines confidence in pensions. It’s time for MPs to hear directly from voters that the status quo isn’t good enough.”
