Simpler pension transfers took an average of 10.8 days to complete between July 2024 and June 2025, down from 11 days at the end of March.
This is according to the latest Origo Transfer Index (OTI) data, which cover 30 of the UK’s largest pension providers.
Simple transfers, where firms have greater control over straightforward pension asset movements, made up nearly 90% of all transactions, with more than half completed in six working days or less.
Overall, the OTI group processed 1.4m transfers over the 12-month period, worth just under £58bn.
Across all transfers, including more complex cases requiring additional checks, the average completion time was 12.4 days.
Anthony Rafferty, CEO of Origo, said the improvement was notable given high activity levels earlier in the year.
“It’s especially good to see average transfer times tick back down after an extremely busy tax year end, despite volumes and values remaining high into summer,” he said.
Rafferty added that upcoming changes to inheritance tax rules on pensions could influence transfer demand and turnaround times.
“The industry is in a strong position to handle any unpredictability,” he said.
Launched in 2008, the Origo Transfer Service processes more than 80% of UK defined contribution pension transfers, handling 1.5m transfers worth over £66bn in 2024.
