Pension transfer times have continued to accelerate through 2025, with the latest data from the Origo Transfer Index (OTI) showing a further improvement in efficiency in the third quarter of the year.

The Q3 figures revealed that simple transfers, which make up nearly 90 per cent of all transfers, took an average of 10.7 days to complete, down slightly from 10.8 days in Q2 and 11 days in Q1.

These transfers represent cases where providers have greater control over the process for moving relatively straightforward pension assets between schemes.

The update comes after more than 2,000 people backed PensionBee's petition calling for a 10-day pension switch guarantee, which the group highlighted as evidence of the growing public demand for faster and clearer pension transfers.

Meanwhile, both the volume and value of transfers have risen in 2025.

Almost 1.5 million transfers were completed across the OTI group over the 12 months to 30 September 2025, up from just over 1.4 million during the previous year.

Consequently, the total value of transfers climbed to nearly £61bn, around £3bn higher than the previous quarter.

The companies publishing their results through the OTI account for over 90 per cent of all completed transfers by volume on the Origo Transfer Service, which itself covers more than 80 per cent of the UK’s defined contribution (DC) pension transfer market.

Origo chief executive, Anthony Rafferty, said the data demonstrated a healthy and resilient transfer market.

He noted that efficiency had continued to improve even as both transfer values and volumes grew - a trend he described as “a really strong signal” of operational strength across the sector.

“The continuous improvement we’ve seen in turnaround times throughout 2025, despite rises in both volumes and values, reflects the overall health of pension transfers,” Rafferty said, adding that the sector was in “a really strong place”.

Looking ahead, Rafferty suggested that the Autumn Budget could introduce fresh dynamics to the market as speculation builds over possible changes to pensions policy.

He warned that providers should be prepared for “some short-term behavioural shifts”, such as individuals acting early to access tax-free cash, as the Budget draws near.

However, he added that “the sector looks well-prepared to handle any increased activity” that might follow.

The latest Retirement Income Market Data from the Financial Conduct Authority (FCA) recently revealed that there has been a significant increase in the amount of money being withdrawn from pensions, with a particular "surge" seen in those accessing large pension pots.

The figures showed that the amount of money withdrawn from pensions had risen by 35.9 per cent over the past year, increasing from £52.152bn in 2023/24 to £70.896bn in 2024/25.

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