New pension options from Standard Life
www.moneynews.co.uk > Pensions > New pension options from Standard Life
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Money News |
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New pension options from Standard Life
Wed 2nd Dec 2009
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Phase one of the scheme, part of Origo 'Options', was set up to allow transfers between pension and annuity. The second phase sees transfers from pension to pension being covered.
The average time for a transfer to pass between two accounts is 11 calendar days.
Ronnie Collard, customer service director with the pension provider, commented: "Since the service launched in December 2008, 'Options' has significantly improved transfer times, allowing the industry to transform the service it is providing to customers and intermediaries."
Standard Life is one of eight providers who allow the service and allow all non-occupational products to be used, including stakeholder pensions and SIPP.
In related news, the company recently calculated that the average age of retirement is between 74 and 86 for people who do not have any savings set aside.
Click here for more pensions news
Related News : Pensions |
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