Pension Switch Guarantee

Mission statement

We believe that pension savers should have the same switching rights as they do in other regulated markets, like energy and banking. Our campaign brings together providers who are committed to freedom of choice, core switching principles and better consumer outcomes for UK pension savers. 


We are a consumer focused campaign to deliver a faster end-to-end transfer time of 14 days for pension switching. Currently, pension providers won't publish their own transfer times. We are a small committed group who believe that publishing our own transfer times is the first step towards real transparency for savers. 


Whilst this isn't - yet - a guarantee that your money will transfer in 14 days, it's a commitment from a small group of providers to transferring quickly and transparently. And publishing how well we meet that commitment, on a yearly basis.
 

Efficient switching is essential for a healthy functioning marketplace.

Whether you are looking for cheaper fees, a different plan or better customer service - the Guarantee makes it easy to switch. Now you can easily take control of your pension savings and start to plan for your retirement.  

How does it work?

The Pension Switch Guarantee gives you peace of mind that the provider you are switching to, cares about your rights as a consumer. They will do everything they can to make sure that it happens quickly, efficiently and electronically.  Switching provider will always be free and there's an effective process for complaints if something goes wrong. 


Transfers happen electronically - no paper forms!

All providers who commit to the Pension Switch Guarantee use secure, fast, electronic systems. Your money is safe and you always know where it is at every stage of the transfer. 

Providers aim to transfer your money in around 14 days

From the day you request to leave, to the day the funds are received by your new provider should take no more than around 14 days. In cases where it needs to take longer than 14 days, you will be kept informed at every step of the way.