PensionsNov 5 2015

Talbot & Muir signs up to Origo transfer service

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Talbot & Muir signs up to Origo transfer service

Talbot and Muir has become the 75th company to sign up to the service, which offers the ability to transfer pension pots in cash.

The options service serves a range of pensions providers, schemes and third party administrators, having handled over £70bn worth of transfers between providers and platforms since its launch in 2008.

Claire Trott, director at Talbot and Muir, said: “At Talbot and Muir, we are constantly assessing ways to improve the service to our clients through the use of technology.

“Origo has a fantastic reputation in the market for providing tangible business efficiencies.

“Its Options Transfers service has the ability to transfer pensions either in-specie or in cash, or a combination of both, which is invaluable for Sipp providers like ourselves.”

Paul Pettitt, managing director of Origo, said: “The fast and efficient transfer of pensions and assets is a major issue for the pensions industry.

“This is where the benefits of automated processing of transfers, as delivered by the Options Transfers service, are so easily demonstrated, significantly speeding up the transfer process (from weeks to days and in some cases minutes), increasing cost-efficiencies, reducing risk and providing a far improved customer outcome.

“Importantly, as a not-for-profit organisation run by members of the industry for the industry, we are able to keep the costs for Options users to a minimum.

“In addition, Origo conducts due diligence on all companies applying to participate in Options, which means that while regulation requires members of the Options community to conduct due diligence at an individual transfer level, they have the comfort of knowing that they are part of a ‘trusted service’.

“That level of trust between 75 financial services brands is invaluable in the transfer market.”