Pension transfer times continued to increase in the third quarter of 2009, according to figures from Origo.
The latest figures from the ABI's Options initiative show some providers have made significant improvements in average transfer times, but others continue to lag behind. Phoenix continues to sit at the bottom of the Options league table, with transfers for some funds seeing an increase in average transfer length, up from 25.6 days to over 28 days. The average transfer time among firms participating in Options increased from 11.1 days in Q2 to 11.4 days in Q3. Transfer times are considerably higher than the low of 7.7 days seen in Q1, though Origo says this is largely due to a number ...
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