Adviser > News > July 2010 > We are now using Origo Options
We are now using Origo Options
We are now using Origo Options to streamline the process for Open Market Options (OMOs) transfers. This will be extended to pension transfers in September 2010.
Using Origo Options - a web-based tool that facilitates the exchange of information between providers - is part of our ongoing commitment to improving our service, making it as easy as possible for you to do business with us.
The benefits of using Origo Options
- It simplifies the transfer process and removes unnecessary paperwork and phone calls.
- There are agreed Service Level Agreements (SLAs) between providers so they are all working to the same timescales with the same level of priority.
- Money moves between providers more quickly.
- You spend less time chasing up providers to find out what stage the process is at, or where the funds are.
- You get your fee more quickly.
- Your client receives PCLS or annuity money more quickly.
About Origo
Origo are a non-profit organisation owned by its sponsors – the UK's leading life assurance groups. Origo works with product providers, lenders, financial advisers, portals and software companies to tackle cost and efficiency issues that they cannot solve in isolation.1
Origo's Options service is currently used by over 16 providers and since its launch in December 2008, it has reduced transfer times from an average of 51 days to just 11 days.2 Visit Origo's website to find out more.
If you have any other queries please contact your Scottish Life consultant.
References:
- About Origo www.origoservices.com/aboutus
- Origo Pensions Transfer www.origoservices.com/options
For professional advisers only
