The Common Declarations Working Group has devised an agreed set of words to remove the need for paper-based forms to make pension transfers.
The group that consists of personal pension providers and platforms, was set up in October 2015 and had its first meeting in December last year.
Its remit is to manage the evolution of the Origo open Common Declarations agreed for pension transfers for the whole industry and it is chaired by group member Les O'Hare who from Prudential.
He said: "The working group came together for the first time in December 2015 and was immediately effective in agreeing new ‘Common Declarations' wording that will make pension transfers more efficient for the entire industry."
The ‘Common Declarations' were originally developed by Origo in collaboration with members of the Options community to accelerate pension transfer processes.
In 2013 it made the declarations available free of charge to the industry as a whole, to help improve consistency and avoid the cost.
Origo said it would develop a pension dashboard for the industry in September last year.
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