Cofunds calls for end to pension transfer delays

The fund supermarket says while many in the industry have focused on the problems of platform-to-platform transfers, particularly involving ISAs, pension transfers are a “much more critical issue”. Anthony Wolfe, strategic development director at Cofunds, is calling for the creation of acceptable timescales for transfer business, as the firm says it is aware of pension transfers that have taken months to complete. He says “over three months is common and six months is not unusual”. He points out pensions transfers is a rapidly growing market – particularly since A-Day - as investors seek...