Final salary pension transfer requests on the up, says research

Two-fifths of advisers say enquiries have increased 'significantly'

Tom Ellis
clock • 2 min read

Three-quarters (75%) of advisers have seen an increase in the number of requests to transfer final salary pensions since then-Chancellor George Osborne's pension freedom reforms in April 2015, according to research by Retirement Advantage.

Of the 107 advisers surveyed in May and June 2016, two-fifths (40%) said the number of people enquiring about a transfer had increased significantly. Just a quarter (25%) of advisers said the level of enquiries had remained steady.  "Final salary transfers have long been seen as a taboo, but the subject has been thrown into much greater focus since the pension freedoms were introduced," said Retirement Advantage pensions technical director Andrew Tully. "Many schemes are currently offering transfer values higher than the historic average and, as a result, advisers have been able to ma...

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