Retirement specialist PensionBee has launched a petition demanding the government take action on pension delays as frustration mounts over the slow pace of pension transfer switches.

The petition urges the government to introduce a legally enforceable 10-day pension switch guarantee.

The firm said millions of consumers try to take control of their retirement savings every year but find themselves blocked from moving their money by outdated processes, unnecessary red tape and excessive delays.

It said transfers that should take days often stretch into weeks or even months, with savers left in the dark about where their money is and when or if their transfers would go through.

The petition is part of PensionBee’s wider 10-day pension switch guarantee campaign, which aims to modernise pension transfers and give savers more control over their retirement savings.

The petition warns that unless urgent action is taken, millions will continue to suffer from a 'broken system', while poorly performing providers profit from inertia and confusion.


Lisa Picardo, chief business officer UK, PensionBee, said: “In 2025, people can switch their bank account in a week and send money instantly – so why are pensions still stuck in the Stone Age?



“Consumers deserve better when it comes to their hard-earned, critically important retirement savings. Delays have real opportunity costs - hampering engagement, costing people real money, limiting their choices, and undermining trust in the whole pensions system.

“We’re calling on the government to set clear, enforceable and modern standards so people can move their pension in 10 days or less – no excuses.



“The longer we delay reform, the more savers lose out. Let’s fix this now and put the power where it belongs.”

• To sign the petition to “Legislate to mandate offer of electronic pension transfers and higher standards” visit here.