Advisers leaving DB market lends to pension transfer fall - AJ Bell

The total value of pension transfers dropped from £10.6bn in the first three months of 2018 to £8.2bn in the second quarter - a decrease of nearly 23%. In total, almost £80bn of pension transfers have been recorded by the Office for National Statistics (ONS) since the pension freedoms in 2015. The origins of where the pension transfers have come from has not been recorded, but commentators suggest the transfer activity could be driven by savers leaving defined benefit (DB) schemes. AJ Bell senior analyst Tom Selby said savers have been quitting their DB schemes in droves since the pen...