Savers Complain Of Poor Pensions Transfer Experience

By Martin Croucher (September 7, 2021, 3:00 PM BST) -- Nearly half of British retirement savers say they have had a bad experience attempting to transfer their pensions to an alternative plan, according to a survey published on Tuesday — despite efforts by the industry and regulators to cut delays.

The poll found that 42% of people who have tried to initiate a transfer of their investments would think twice about making a similar attempt in the future.

The Financial Conduct Authority called on the investment market in 2019 to lower barriers that prevent people from shopping around and switching providers. But PensionBee, the retirement plan provider that carried out the survey,...

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