Simpler pension transfers took an average of just 11 days to complete in the lead up to the end of the 2024/25 tax year.

The figure for the year from 1 April 2024 to 31 March 2025, was slightly up on the 10.5 days recorded at the end of last December.

Half of all transfers were completed in seven working days or less during the period, according to the latest data from Origo’s Transfer Index.

Transfer volumes and values were significant over the period, Origo said, reaching 1.4m with a value of more than £57bn.

The overall pension transfer time, allowing for slightly more complex transfers where providers may need to rely on third parties for additional information, came in at 12.7 days.

Anthony Rafferty, CEO of Origo said: “Tax year end is typically the busiest time of year for advisers, clients and providers alike, reflected by rising transfer volumes and pension transfer values over the period.

“Against this backdrop, we can see why pension transfer times have crept up that little bit in recent months but we would expect these to drop back down now that this busy period is behind us.

“Overall this is still good news for consumers who are mostly having their pensions transferred in close to 10 days and as an industry we should feel proud of that.”

Origo’s Transfer Index tracks the pension transfer times of almost 30 voluntary participants, including most of the big names in the industry.

Performance is measured on how long it takes the ceding provider to transfer the request, including any due diligence and divestment of funds before sending the customer’s money to the acquiring provider.

Those firms which publish their transfer times as part of the Origo Transfer Index make up 90% of all completed transfers in the 12-month period.

The transfer service accounts for more than 80% of all DC pension transfers in the UK market.