How long it takes to process your transfer out of Penfold depends on whether your new provider uses Origo's electronic transfer service.
Origo transfers are usually completed within 1-2 months
Non-Origo transfers can take 2-3 months
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.