ViaNova has recorded its fastest cash pension transfer to date, with a transfer time of less than 44 hours. The transfer was processed from instruction to completion entirely without friction, mostly thanks to the high-quality integration in place between many pension providers operating within the TeX framework. Where schemes and administrators have invested in connecting to the open standards infrastructure, the results speak for themselves: transfers that once took weeks (

Willis Towers Watson has reached a landmark milestone by completing 5,000 electronic cash pension transfers, with a combined value of over £400 million, facilitated by ViaNova’s open standard market practices. The transfers were processed end-to-end using the TeX trust framework with strait through processing in place and little manual intervention required. The average pot value of £80,000 evidences that the solutions that ViaNova promote are working in the real world and ca

ViaNova has long shown how it’s standards allow for affordable interoperability between administrators and fund managers for trading - cash pension transfers are no different. At low volume, providers would expect to pay in the region of a few pounds, however this falls to below £1 per transfer at scale, and for a provider with their own SWIFT connection their fees could be as little as £0.10 for a transfer in and £0.20 for a transfer out. For many years, the high unit cost o

Automation and continued process improvement now sees a median cash pension transfer time of less than 7 days using open standards and the TeX framework. In addition to the protection that is offered by the TeX trust framework, open standards are cost-effective and quicker than ever; an order of magnitude quicker and cheaper than the proprietary cash pension transfer solution.