Pension transfer times increase

The association stresses its initiatives have helped bring down overall transfer times, but says delays are inevitable in some situations. Pensions transfers for ABI members participating in the Options programme took an average of 11 days during Q2 2009. This is up from just eight days in the previous quarter. However, average transfers during 2008 took 31 days, and the ABI says its figures show the scheme has been successful. Maggie Craig, director of life and savings at the ABI, says: "Although there has been a slight increase in the average transfer time from Q1 2009, this sho...