Scottish Life cuts pension transfer time by three days

Options is a web-based tool that facilitates the exchange of information between providers. The tool speeds up waiting times for annuitants looking to transfer their pension funds from one provider to another to take advantage of better deals. "Options is a simplified transfer process which removes unnecessary paperwork and phone calls," says Isobel Langton, head of customer services at Scottish Life. "In addition, money moves between providers more quickly, so the customer receives their pension commencement lump sum or annuity payments more quickly and there's less admin and chas...