Simpler pension transfer times fell to an average of 10.8 days in the 12 months to 30 June 2025, in what has been branded a "positive story" for savers by Origo, although wider industry pressure for the government to introduce a switch guarantee continues to build.

The latest Origo Transfer Index (OTI) data showed that the average transfer time for simpler transfers for the 12 months from 1 July 2024 to 30 June 2025 was down from the 11 days previously recorded at the end of March this year.

In addition, Origo found that more than half of simple transfers, where the company has more control over the process, were completed in six working days or less.

The overall average pension transfer figure, which allows for slightly more complex transfers where providers may need to rely on third parties for additional information, came in at 12.4 days, compared to 12.7 days at the end of March.

These improvements have also been achieved amid "significant" transfer volumes and values, as Origo's Transfer Index, which tracks the pension transfer times of almost 30 voluntary participants, showed that transfer volumes for the period reached over 1.4 million for the OTI group, with a value just short of £58bn.

Despite this improvement, there has been growing frustration over the current pace of pension transfers, which led PensionBee to launch a national petition urging the government to introduce a legally enforceable 10-day pension switch guarantee.

The petition builds on recent research from PensionBee, which raised concerns over the "glacial" pace of current pension transfers, revealing that nearly half (46 per cent) of consumers who've transferred a pension found the process difficult.

However, Origo CEO, Anthony Rafferty, welcomed the OTI figures, noting that transfer times had fallen back after the busy tax year-end despite sustained high volumes and values heading into the summer months.

Looking ahead to the second half of 2025 and beyond, Rafferty warned that pension providers, advisers and clients will have "a lot to contend with" given the changes to IHT rules around pensions on the horizon.

"It will be interesting to see if and how this starts to impact transfer volumes and any knock-on effect to turnaround times, but the industry has got itself to a strong place from which to handle any unpredictability," he added.

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