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

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 out. The estimated cash transfer value of a 64-year-old member with a pension of £10,000 a year with typical inflation increases rose slightly from £256,000 in September to £257,000 in October. Transfer values remained "surprisingly stable" despite the significant economic uncertainty arising from the Covid-19 pandemic, Brexit and the US election, according to XPS partner Mark Barlow. ...