At Pension App, we believe in a pensions industry that works in the best interests of savers, encourages innovation, and supports healthy competition. Unfortunately, our experience shows that some established providers operate in ways that make it harder for customers to move or consolidate their pensions.
These practices can include unnecessary delays in processing transfers, a lack of engagement when requests are complete and compliant, and inconsistent criteria for approving transfers. This can create frustration for customers who simply want to take control of their retirement savings.
When transfers are slowed or made more difficult than necessary, the impact on savers is real. Customers can face:
Delays in consolidating pensions into a single, easy-to-manage account.
Confusion over requirements and processes.
Missed opportunities to keep track of their pension’s performance.
The Financial Conduct Authority (FCA) has been clear that due diligence should be proportionate, and that providers should avoid behaviours that make it unnecessarily difficult for customers to switch or transfer.
We are committed to:
Treating savers with respect and fairness.
Working collaboratively with all providers to improve the transfer experience.
Supporting compliance with FCA principles and the Consumer Duty.
We believe that constructive dialogue between providers is the fastest route to better outcomes for savers, and we will continue to raise concerns where we believe processes may not align with regulatory expectations.
If you believe a transfer is taking longer than it should, you can:
Contact your provider to ask for an update on your case.
Familiarise yourself with your rights under FCA guidance.
Use impartial resources such as MoneyHelper or Pension Wise for free, government-backed guidance.
Pension App will keep working to make pension management simpler, faster, and more accessible for everyone. By encouraging transparency, proportionate processes, and fair treatment, we can help create a pension industry that works better for all savers.
With pensions, your capital is at risk.