2016 DB transfers-in already exceed last year's total - Old Mutual Wealth

Some customers requesting second cash equivalent transfer values

Tom Ellis
clock • 2 min read

Old Mutual Wealth's platform has already received more transfers-in from defined benefit (DB) schemes this year than in the whole of last year, the firm has said.

According to the investment service firm, a number of its customers who requested transfer value analysis earlier this year have returned to ask for another cash equivalent transfer value from their defined benefit scheme. The updated cash equivalent transfer values vary from scheme to scheme but are, on average, 10% to 20% higher than earlier in the year, Old Mutual Wealth said. "Nobody should enter into a DB transfer without being fully aware of the risks," Old Mutual Wealth pension expert Jon Greer warned. "It is vital to make a rounded assessment of the pros and cons in the context...

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