Legislate to mandate offer of electronic pension transfers and higher standards
You can switch banks in a week and send money instantly, so why should pension transfers take months and be so stressful? Only the government has the power to change this, so we’re asking them to take action and set clear, enforceable standards for faster, electronic pension transfers.
Signatures
16,729
signatures
Government response threshold (10,000) · 10,000/10,000 · reached
Debate threshold (100,000) · 16,729/100,000
- 24 JAN 2026Petition closedFinal total: 16,729 signatures
- 21 JAN 2026Government respondedDepartment for Work and PensionsGovernment reply
The Government recognises the importance of efficiency in the pension transfers system and is considering how to improve the pension transfer process while maintaining strong member protection.
Read full response - 08 JAN 202610,000 signatures reachedEligible for a government response
- 24 JUL 2025Petition opened for signatures
Background
63% of savers believe delays in pension transfers hinder effective retirement planning. Yet we think some providers persist with outdated, paper-based processes. At best, we think this may cause stress and confusion. At worst, we think it may deter people from moving their money, trapping them in poor-value, or unsuitable funds.
Some providers already offer secure, electronic transfers. We think it’s time to mandate this across the industry for fairer, efficient retirement savings.