Virgin Money Pensions Transfer wait.

AKAGraham

Is anyone else having trouble transferring a pension pot out of Virgin Money. I requested two transfers 12 weeks ago, one from The Peoples Pension, which was by the slower postal system and one from Virgin Money which should have been the faster electronic system. I recieved the transfer from the Peoles Pension after 6 weeks but 12 weeks on I am still waiting on Virgin Money. Their only reason given has been problems with a new system. I hope Nationwide know what they are buying!!!!

AKAGraham

dunstonh

Is anyone else having trouble transferring a pension pot out of Virgin Money. 

Yes, there have been several posts saying they are slow.

 I requested two transfers 12 weeks ago, one from The Peoples Pension, which was by the slower postal system and one from Virgin Money which should have been the faster electronic system.

Peoples pension uses Origo which is the electronic system.
Virgin Money does not use Origo. It uses the old paper method.

However, for Origo to work, the receiving scheme needs to use it as well.  otherwise they all use the old paper method.

. I recieved the transfer from the Peoles Pension after 6 weeks but 12 weeks on I am still waiting on Virgin Money. 

That was actually slow by peoples pension standards.  The quickest providers are about 2-3 days but most origo transfers are about a week.   The last few PP transfers I did were a couple of weeks.  There was one that took longer but that was because the employer hadn't made their final payroll payment when the person retired and then hadn't told PP that the person was no longer an active member.   So, it was the employer that was holding it up.

12 weeks for the old paper method is not uncommon.   

ShaggyT

AKAGraham said:

Is anyone else having trouble transferring a pension pot out of Virgin Money. I requested two transfers 12 weeks ago, one from The Peoples Pension, which was by the slower postal system and one from Virgin Money which should have been the faster electronic system. I recieved the transfer from the Peoles Pension after 6 weeks but 12 weeks on I am still waiting on Virgin Money. Their only reason given has been problems with a new system. I hope Nationwide know what they are buying!!!!

Yes I am too.  Request went in June and they keep saying some technical issue.  I have rung them daily for the last week.  Have you had any luck yet? Its really frustrating.

Marcon

ShaggyT said:

AKAGraham said:

Is anyone else having trouble transferring a pension pot out of Virgin Money. I requested two transfers 12 weeks ago, one from The Peoples Pension, which was by the slower postal system and one from Virgin Money which should have been the faster electronic system. I recieved the transfer from the Peoles Pension after 6 weeks but 12 weeks on I am still waiting on Virgin Money. Their only reason given has been problems with a new system. I hope Nationwide know what they are buying!!!!

Yes I am too.  Request went in June and they keep saying some technical issue.  I have rung them daily for the last week.  Have you had any luck yet? Its really frustrating.

Every time you ring them you take them away from actually getting on with anything. As dunstonh has pointed out above, 12 weeks is not uncommon, so maybe grit your teeth and leave them to it...?

westv

3 months is a ridiculous length of time even if it is done by paper.