How long will a workplace pension refund take?
Once we've received all the information needed to process your refund request, refunds can take up to 90 days to be completed.
While this is the maximum timeframe, we aim to process refunds as quickly as possible, and many are completed sooner.
Why can refunds take up to 90 days?
Pension contributions are invested once they're allocated to a member's pension pot. Before a refund can be made, the investments must first be sold (disinvested) and the proceeds received.
We also carry out the necessary checks to ensure the refund is processed correctly and in line with pension regulations. Depending on the circumstances, we may need to liaise with your payroll provider or other internal teams before the refund can be completed.
Can I help speed up the process?
Yes. To help us process your refund without unnecessary delays, please make sure we've received:
The bank account details for the account the refund should be paid to (including the account name, sort code and account number).
Any additional information or documentation we've requested.
We'll begin processing your refund once we've received everything we need.
Still have questions?
If you have any questions about your refund request, please contact our Customer Support team at autoenrolment@getpenfold.com and we'll be happy to help.