Pension transfers pass £60bn mark
Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.
"Although the volume of transfers has probably passed its peak, large numbers of people are still interested in seeing whether reshaping their pension benefits would be in their interest" - Sir Steve Webb
Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.
The data, supplied to Royal London, showed there have been 390,000 transfers out of DB pension schemes since Freedom and Choice came into force in 2015, with the value of the transfers totalling £60bn....
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