Why is my pension transfer taking so long?
There's a lot going on behind the scenes when you transfer your pension and it can take up to 6 months for the transfer to take place - although it's normally much quicker.
Depending on who your current pension provider is, we may be able to request your pension transfer electronically. This tends to be the quickest way to transfer your pension. 🚀
Some providers rely on physical documents being sent back and forth between providers, which can slow things down.
We’ll be in touch through the app when there’s an update and as soon as your transfer is complete.
Below are the average transfer times for the most common pension providers. We stay in regular contact with them throughout the process to make sure your pension arrives as quickly as possible.
Current average pension transfer times:
Aegon - 31 Days
Aviva - 11 Days
The People's Pension - 45 Days
Fidelity - 45 Days
Hargreaves Lansdown - 13 Days
Legal & General - 15 Days
Moneybox - 20 Days
National Employment Savings Trust (NEST) - 22 Days
Now:Pensions - 25 Days
Penfold Savings Limited - 52 Days
PensionBee - 17 Days
Royal London - 53 Days
Scottish Widows - 14 Days
Smart Pension - 21 Days
Standard Life - 27 Days
Reasons pension transfers could be delayed
- We need something from you
Have you received notifications from us? Occasionally we need some additional information or will ask you to take an action to help move your pension transfer along. If we've reached out, please reply promptly.
We won't be able to progress your transfer with out a response.
- Your current provider needs something from you
Pension providers have a duty of care to protect your pension. They may need to ask you some questions or need you to complete some additional forms.
Check that your contact details are up to date if you haven't heard from your current provider. If your contact details have changed but you haven't updated them, your provider may not have been able to reach you.
If your details are correct and you haven’t heard anything, start by reaching out to your current provider. One of the most effective ways to speed up your transfer is to get in touch with them yourself.
