Why pension transfers remain stuck in the slow lane

Savers rank pension transfers as the second most difficult life admin task after moving house, with nearly half of those who attempt one describing the process as ‘difficult'. More concerning still, one in ten give up entirely. These outcomes are hardly surprising. Outdated rules, inconsistent regulation and processes never designed with savers in mind have created a 'transfer lottery'. Some providers complete transfers in as little as five days on average, others take up to 90. And these averages, of course, mask a broader spectrum, with some transfers extending beyond the statuto...