Submitted on Monday 6th February 2017
Published on Monday 20th February 2017
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 351
Introduce a 10-day guarantee for safer, simpler and faster pension switching
Pension firms can legally hang on to our money for six months if we request to change provider. They do it to earn more fees and often use delay tactics to deter us from switching. Consumers deserve better.
Let's get a 10-day pension switch guarantee so we can take back control of our money.
We deserve the right to move our defined contribution pension pots safely and easily between providers.
Pension firms that try to stop us from switching are preventing us from taking advantage of better and cheaper pension products. They are also exposing us to risks and scams.
A 10-day pension switch guarantee would require providers to respect our choice to switch quickly and safely.
Pensions are our money - we should be in control.
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