DB transfer activity rises for third consecutive month - XPS

Scam activity dropped during June but remains high

Holly Roach
clock • 1 min read

Defined benefit (DB) transfer activity rose in June for the third month in a row, according to XPS Pensions Group.

The consultant's Transfer Watch revealed that 75 members out of every 10,000 members are now transferring their pensions annually - the highest level seen since July 2020. This comes after XPS revealed pension transfer values saw the largest ever monthly fall in February. XPS said transfer activity is picking up as lockdown restrictions ease further. Transfer values dropped slightly in June to £248,000, compared to £251,000 the month prior. For comparison, transfer values in July 2020 sat at £261,000. The consultant said the small drop in the transfer value index "reflected a conti...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Reeves to consider £2bn raid on tax-free pension lump sum

Reeves to consider £2bn raid on tax-free pension lump sum

Telegraph reports PCLS cut could help plug £50bn public finances hole

Jonathan Stapleton
clock 21 August 2025 • 3 min read
State pension age review: Govt launches call for evidence

State pension age review: Govt launches call for evidence

UK faces long-term demographic pressures

Jenna Brown
clock 18 August 2025 • 2 min read
'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

After PensionBee calls for a legally enforceable transfer guarantee

Sahar Nazir
clock 18 August 2025 • 2 min read