In our recent survey, three in ten respondents told Which? that the process of transferring their pensions was either difficult or fairly difficult, and one in 10 said they eventually gave up on the process.
This problem isn’t new: the Financial Conduct Authority (FCA) flagged pension transfer delays as an issue back in 2015.
More than a decade on from that initial warning, we’ve spoken to industry insiders and gathered experiences from those who have moved their pension, to find out what’s going wrong – and what can be done to improve the system.
so you can see more independent news written by expert Which? journalists.Pension transfers on the rise
With many of us building up multiple pensions as we change jobs throughout our careers, bringing these pots together in a single scheme can make it much easier to manage our money.
Around 1.7m pension transfers took place in 2025, according to data from the electronic pension transfer service Origo – that’s 13% more than in 2024.
In theory, the process of moving your pension is simple: you fill out an application with the provider you want to move to, and it will take care of the transfer. But this won’t necessarily happen promptly – under the Pension Schemes Act 1993, providers are allowed up to six months to complete a transfer request.
In our recent survey, three in 10 people who have made a pension transfer said it took up to a month, a further two in 10 said it took up to three months, while one in 10 said it took six months.
Find out more:What’s going wrong?
Pension transfer delays can have serious financial and emotional consequences for savers: you could miss out on potential investment growth, pay unnecessary fees and have your retirement timeline disrupted.
Which? member Kirsty had already stopped working when she initiated her pension transfer, but told us she felt like she ‘hadn’t fully retired’ because of the stress she felt during the months-long wait for it to be completed.
In May 2025, pensions consolidator PensionBee launched its ‘End Pension Purgatory’ campaign, highlighting ‘severe’ inefficiencies in pension transfers.
Lisa Picardo, chief business officer at PensionBee, told us the system was ‘broken’ but ‘capable of being fixed’, blaming outdated legislation, a lack of consistent standards and accountability, and an ‘unwillingness among firms to modernise’.
There are two systems currently in place for tracking transfer times – Origo and STAR. The STAR initiative is a voluntary system for tracking transfer speeds, while Origo is the commercial platform many providers use for electronic transfers. Because not all firms are required to report their data through these systems, it can sometimes be difficult to build a transparent picture of exactly how long transfers take.
Find out more:No incentive for firms to improve
Lisa Picardo from PensionBee argues that the longstanding six-month deadline ‘enables industry mediocrity’ and gives firms no incentive to improve – even though digital firms prove that swift transfers are possible.
PensionBee’s data shows that digital transfers into its own system are often completed within 10 days, whereas paper-based versions can take months.
Similarly, Origo found that electronic transfers averaged 10.7 days in late 2025. Origo and Star agree that manual processes create bottlenecks, and our own survey identified slow responses and excessive paperwork as the top causes of delays.
PensionBee notes that many large firms still rely on ‘wet’ (ink) signatures and postal correspondence as if the ‘internet never happened’.
Firms are moving to a more digitised system, although full automation could take a decade. In 2026, Star will start collecting full data on both manual and electronic transfers, which it hopes will encourage firms to do better. Origo suggests fixing this by re-engineering the paper-based process to remove unnecessary steps.
Find out more:Scam checks and 'sludge practices'
The Pension Schemes Act 2021 introduced a warning flag system to help protect savers from pension transfer scams. It means that a transfer will be stopped immediately if there is a high risk or ‘red flag’ (for example, the transfer was made after a cold call), while an amber flag pauses the transfer and requires the saver to have a meeting with MoneyHelper – a free, government-backed service.
While scam protection is vital, critics argue that the current system for identifying risky transfers is being misapplied to delay legitimate ones. This is known in the industry as a ‘sludge practice’. PensionBee describes the flags as a ‘smokescreen’ for slow service.
Andrew Marker, chair of Star, says the anti-scam checks are ‘open to interpretation’, which can vary widely. Star is now working to standardise these checks. However, Lisa Picardo said the rules themselves should be updated and not just better implemented.
The FCA does defend certain transfer delays, citing that providers must make the necessary checks to protect consumers from scams.
However, Margaret Snowdon OBE, chair of the Retirement Income Taskforce for the Consumer Duty Alliance, argues that while security is vital, it cannot be an excuse, and backs the call for industry-wide automation and standardisation.
Find out more:What's being done to improve things?
The FCA is proposing new measures from April 2026 to better support consumers making transfer decisions. Which? believes this should allow for a faster overall timeframe while ensuring savers have the right information at the start of the process.
The reforms will mandate a 10-day data-sharing deadline, clear side-by-side comparisons for new and old schemes, and an industry-wide acceptance of digital signatures to accelerate pension transfer speeds. The FCA notes that these rules add a step to the decision-making process but argues they won’t delay the transfer once you’ve applied.
The FCA told Which? that its reviews found that more than 75% of sampled firms completed pension transfers within 10 days. It also stated that the new proposals would provide consumers with ‘clearer, more timely and more meaningful information when considering a transfer’.
Find out more:How the pension transfer process works
Here’s what the different stages should look like, according to The Consumer Duty Alliance’s Retirement Income Taskforce:
Do your research
Start your transfer
Request a statement of your pension transfer value from your current provider. Next, apply to your new provider to start the move. It will guide you through and request any paperwork needed.
Once submitted, timing depends on your pension type (personal pensions move quickly, but complex workplace or defined benefit schemes take longer), but providers must perform safety checks.
To avoid delays, complete forms accurately and promptly. Stay in touch with both providers to track progress. If transfers exceed three months without reason, this may justify you making a complaint.
Wait for notification
You’ll be notified once your transfer is complete. You should then review statements from your new pension account to ensure they’re correct. You usually have 30 days to cancel the transfer, but your previous provider might refuse to take it back, and if the value drops, you could get less back.
Our research: In October 2025, Which? surveyed 1,360 members of the Which? Connect panel online. 101 of them had transferred their pension in the past three years.
source https://www.which.co.uk/news/article/why-are-pension-transfers-still-so-painful-aZyTR7E9gJD5