Platforms sign up to Origo’s pension transfer service

Origo, the eCommerce standards and services body for the financial services industry, has announced Cofunds, Fidelity, AJ Bell and Suffolk Life have jointed its pension transfer service.

The new sign-ups bring to 28 the number of organisations joining Origo's Options Transfer Service which launched in 2008 to accelerate pension transfers at the annuity stage.

The service was subsequently extended to include pension-to-pension transfers and now offers re-registration.

"Retirement planning is at the very heart of a platform proposition, so joining Origo's Options Transfers service is a big step forward for Cofunds and our clients," said Cofunds head of proposition Verona Smith.

"It offers huge benefits for advisers and their own clients as it could shave days and even perhaps weeks off the time it takes to transfer a pension."