One-third of over 40s would consider DB to DC transfers to access pension freedoms

Just one quarter of over-55s

clock • 2 min read

Nearly one-in-three retirement savers would consider transferring final salary pension benefits to defined contribution schemes, latest research shows.

The survey - conducted in August by Consumer Intelligence on behalf of MetLife among 1,141 people aged over 40 - found 31% of those aged over 40 were tempted by the rising transfer values offered by defined benefit schemes. However, the numbers tempted to transfer out falls among the over-55s - with just 26% of those aged over 55 saying they would consider transferring. This comes as analysis by Xafinity has found transfer values for defined benefit schemes are now at a record high following the EU Referendum - with a model DB scheme offering a transfer value of £243,000 to a member a...

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