Trafalgar House launch online portal to simplify pension transfers

Trafalgar House launch online portal to simplify pension transfers

Press release: 18 November 2024

Trafalgar House, a specialist third-party pensions administrator, today announced the launch of a new online transfer portal as part of a pilot programme aimed at improving the pension transfer process for members and advisers. The portal is designed to simplify the transfer journey, accelerate processing times, and enhance communication between all parties involved.

The pilot programme went live in October 2024 for a select group of clients and will run until January 2025. During this period, feedback will be gathered to refine the platform ahead of a wider roll-out planned for 2025.

Daniel Taylor, Client Director at Trafalgar House, commented: “The industry widely agrees that the current pension transfer process is cumbersome and outdated. We’ve seen a significant increase in the time it takes to complete transfers, driven by tighter regulatory requirements and an overwhelming reliance on manual, paper-based processes. These methods aren’t just archaic—they’re inefficient and frustrating for members who expect a faster, streamlined service in today’s digital world. By relying on paper, we’re moving backwards.

“Our new portal allows members to complete the entire transfer process digitally, reducing paperwork and significantly speeding up transfers. The portal also integrates identity verification (ID&V) technology to reduce the risk of fraud, ensuring that transfers are not only faster but also more secure. By streamlining the process, we minimise errors, delays, and unnecessary back-and-forth communication, ultimately improving both the speed and quality of service.”

Taylor added: “By way of example, a common frustration for members is being referred to MoneyHelper late in the process, which often causes delays. Our portal addresses this by signposting the need for guidance earlier, helping to keep the process on track and avoid unnecessary hold-ups.

“As an industry, we need to embrace technology as a core part of our service offering to deliver seamless, efficient processes that members expect and deserve.”