Usually, a transfer out of Penfold to your new provider can take about a month to be processed.

However, if you’ve recently contributed to your Penfold pot and are awaiting tax relief to be allocated, the transfer-out process can take up to three months. This is because we won’t be able to process your transfer out of Penfold until all contributions, including tax relief, have been added to your account.

Please keep in mind these are the expected timeframes, as there can sometimes be delays that are unfortunately beyond our control.