Origo Transfer Index
The Origo Transfer Service community is keen to showcase their good work in monitoring their performance and delivering improved transfer times. Some of our members have decided to publish details of the average time taken by them from starting the transfer request on the Transfer Service system until the point in time that monies are transferred. These members account for over 80% of all completed transfers in the last year.
How the process works
Customer asks the provider they wish to transfer to, to acquire their funds from the other provider
Ceding provider processes the transfer request, including any due diligence, divestments of funds, etc. and sends the customer money to the acquiring provider
Acquiring provider confirms receipt of the money to the ceding provider and the customer
Download the Origo Transfer Index report
Download the latest:
> Origo Transfer Index 1 April 2022 to 31 March 2023
> Origo Transfer Index 1 January 2022 to 31 December 2022
> Origo Transfer Index 1 October 2021 to 30 September 2022
> Origo Transfer Index 1 July 2021 to 30 June 2022
> Origo Transfer Index 1 April 2021 to 31 March 2022
> Origo Transfer Index 1 January 2021 to 31 December 2021
> Origo Transfer Index 1 October 2020 to September 2021
> Origo Transfer Index 1 July 2020 to 30 June 2021
> Origo Transfer Index 1 April 2020 to 31 March 2021
> Origo Transfer Index 1 January 2020 to 31 December 2020
> Origo Transfer Index 1 October 2019 to 30 September 2020
> Origo Transfer Index 1 July 2019 to 30 June 2020
> Origo Transfer Index 1 April 2019 to 31 March 2020
> Origo Transfer Index 1 January 2019 to 31 December 2019
> Origo Transfer Index 1 October 2018 to 30 September 2019
> Origo Transfer Index 1 July 2018 to 30 June 2019
How have these performance times been calculated?
The average performance times are provided in calendar days based on measuring the time from when funds are requested on the Origo Transfer Service through to the time funds are actually sent, for transfers successfully completed over the 12-month period covered in this report.
From the download report, you will see on page 2, a diagram which provides an overview of the process. The step measured is represented by the curved arrow.
Please also note that the data refers only to transfers conducted via the Origo Transfer Service – any transfers which remain out of scope, e.g. via paper-based processes, can only be reported on by the individual providers involved.
There are over 140 brands that make up the Origo Transfer Service community, why have only some financial organisations posted their transfer times?
The decision as to whether or not to publish rests with each individual organisation as influenced by their unique policy, practice and decision-making process. However, it should be noted that the providers listed account for over 80% of all completed transfers in the last year.
What are “Simpler” transfers?
For the purposes of this report, "simpler" transfers are those where the ceding provider has complete control over and can reasonably be held fully accountable for the entire ceding process. They are not necessarily simple in nature, but they are not complicated by external factors.
By way of contrast, with some transfers the provider must wait for third parties (e.g. waiting for approval from trustees, or waiting for investment managers to disinvest funds) before they can complete the transfer. Alternatively, steps may need to be undertaken to protect consumer interest, such as protection of safeguarded benefits. There may also be regulatory requirements, such as:
- the provision of Risk Warnings; or
- where Financial Advisers have to complete an Advice Certificate; or
- where awaiting documentation from Trustees for Occupational schemes.
The “Overall” statistics include performance on ALL completed transfers whether fully under the control of the ceding provider or not.
The table in the report shows the average overall performance time for each ceding provider, then the average performance time for the “simpler” transfers which are completely under their control. It also shows what percentage of the overall the latter makes up, and this will vary depending on the product mix of that provider. For example, a specialist SIPP provider would likely have more transfers affected by divestment delays, and would therefore likely have less “simpler” transfers.
Why is there such a variation in transfer times between companies?
Each provider is unique in terms of their processes, resources and product mix. For example, a specialist SIPP provider can be expected to face disinvestment delays proportionately more than a provider with a range of less complex products, and this is reflected in their performance by demonstrating significantly lower percentages of “simpler” transfers.
How do these figures relate to STAR measures?
STAR measures are yet to be fully developed and agreed. In the meantime, the Origo Transfer Service community is focused on ceding performance to evidence that ceding providers are demonstrably transferring out as quickly as they reasonably can.
How can I find out more about the ceding performance times?
For questions about the performance of any one organisation or their absence from the published statistics, please contact them directly through your normal channels. Unfortunately, Origo is not in a position to discuss the detailed performance or decisions of individual customers.
You can find out more about the Origo Transfer Service here
Thanks to our Transfer Service, pension and investment transfers now glide through quickly and smoothly. We have a fully automated, digital process that used to take weeks of clunky manual admin – completely transforming how customers experience asset transfers.
Reduce calls, costs and improve customer service through Origo Transfer Tracking. Our service enables advisers to track the progress of their client’s transfers online.
Get in Touch
If you would like to find out more, or if you have a few questions, please get in touch.