DB transfer activity rises as 60% raise scam red flags - XPS

Scam warnings increase

Stephanie Baxter
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DB transfer activity rises as 60% show signs of possible scams
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DB transfer activity rises as 60% show signs of possible scams

More members transferred out of defined benefit (DB) pension schemes in October after September's record lows while values were surprisingly stable, according to XPS Pensions Group's Transfer Watch.

The proportion of members that transfer out of pension schemes administered by XPS rose from 0.52% in September to 0.62% in October - but is still far below the high reached in June when 1.05% transferred...

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