Origo’s bulk pension transfer service will go live on Monday, the firm has announced.
The launch means that Origo’s members will be able to transfer clients’ assets en masse, and is expected to help providers automate systems, allowing for faster handling of funds.
It comes after the FCA told MPs that the average time for transferring pensions was 16 days.
Origo managing director Paul Pettitt says: “If schemes and TPAs want to significantly improve their transfer operations and service to members there is a quick and easy way to do so, through automation.
“Origo launched its first dedicated technology for pensions transfers in 2008 and has been developing it ever since, making Options a tried, tested and above all trusted system, which now serves over 70 pension provider, platform and TPA brands.”
Origo first revealed plans to launch the bulk transfer service earlier this year.