Facts and Statistics
We owe it to our community and the wider industry to be responsible, supportive and straight-forward. Below, you’ll find a quick-fire list of facts about our Options Transfers service. Hopefully, they’ll help you understand a little more about Options and if you’re left wanting more you can speak to Richard
- Established and launched in 2008 – making it the longest running transfers service.
- The only complete transfers service offering organisations the ability to conduct:
- Pension cash transfers.
- Re-registration of ISAs, GIAs and more.
- In-specie transfers for pensions such as SIPP re-registrations.
- Pension to annuity transfers.
- Drawdown to drawdown transfers.
- Occupational scheme transfers, also known as Bulk Transfers.
- Defined Benefit to Defined Contribution.
- 119 brands using the service, of which
54 are SIPP brands.
- Platforms, SIPP providers, SSAS providers, scheme administrators and providers choose to use the Options Transfers service.
- It conducts around 47,000 transfers safely and securely every month.
- It has transferred over £150 billion since launch.
- Only suitable for financial organisations not advisers or individuals.
- Fastest transfer ever conducted – 2 minutes.
- Long-standing average transfer time for pension transfer 8 calendar days.
- One of two systems to complete the first ever electronic re-registration for an ISA.
- An active and participating member of the TISA TeX initiative.
- Fully interoperable – supporting the latest agreed market practice.
Functionality and support
- Capable of back office integration.
- No location or user limits, nor additional fees.
- Management Information is available at your fingers 24x7, plus regular feedback to the community on service performance via steering and operational meeting groups.
- Enhanced case tracking functionality.
- Dedicated helpdesk to support you and your transfers.