QROPS transfers down for second year in succession

Newly published figures from the government have shown transfers to QROPS hit an all-time high of 20,100, with a total value of £1.76bn, in the 2014/15 tax year but have been in decline since. In 2015/16, transfers dipped by around one-third to 13,700, with a total value of £1.5bn, before falling further in the most recent tax year.    Old Mutual Wealth financial planning expert Rachael Griffin said she had known for some time the QROPS market was "maturing". She explained: "There have been numerous regulatory changes over the years that have made pension transfers to a QROPS more ...