More than 5,000 people have now backed PensionBee’s call for a 10-day pension switch guarantee, as public frustration over difficult and slow pension transfers continues to grow.
Launched in August, the petition urges the Government to set a clear 10-day limit for straightforward pension transfers, bringing the sector in line with faster switching standards in banking and savings.
Currently, savers can face waits of several months when moving their retirement pots between providers, often with little visibility on progress.
These lengthy and unpredictable delays stand in stark contrast to other areas of financial services, such as current accounts and savings, where switches can be completed in just seven days.
As a champion for consumers, PensionBee is standing up for savers who simply want their money moved quickly, safely, and without unnecessary red tape.
The strong public response underscores growing frustration with slow and opaque pension transfer processes.
PensionBee’s campaign aims to make switching pensions as simple and transparent as switching a bank account, helping consumers take control of their financial futures.
The petition will remain open until 24 January 2026. If it reaches 10,000 signatures, the Government will be required to issue a response.
Lisa Picardo, Chief Business Officer UK at PensionBee, said:
“Reaching 5,000 signatures marks a major milestone, and it’s abundantly clear that thousands of savers agree – pension transfers shouldn’t take months.
A 10-day pension switch guarantee would bring much-needed fairness and efficiency to the system, giving people control of their pensions, and the confidence they need to plan for their retirement.
We believe savers deserve better. Delays and confusion have gone unchecked for too long, and it’s time the industry put consumers first.
This campaign is about making pensions work for the people they belong to.”
