Pension transfers up 40% on last year

The eCommerce standards and services body said this reflects increasing pensions traffic as well as the impact the Options Transfers Service has had since it was set up in 2008. The total value of transfers since the service was launched stands at more than £26bn. Origo was set up by 16 of the UK's leading life assurance companies in 1989 to facilitate the development of electronic trading between principals and agents for life, pensions and collective investment business. The average size of a pension pot transfered into an annuity policy in 2012 was £35,000. It said 45% of pots w...