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

Adviser chases Hartley Pensions for ten months over clients' SSAS transfer

Adviser chases Hartley Pensions for ten months over clients' SSAS transfer

Takes case to The Pensions Ombudsman

clock 10 September 2026 • 2 min read
Pension changes to impact more than half of advised clients

Pension changes to impact more than half of advised clients

Advisers’ biggest concern is not understanding the pension IHT rules

Sophia Panayi
clock 09 September 2026 • 2 min read
HMRC updates on information sharing for IHT on pensions

HMRC updates on information sharing for IHT on pensions

Second technical note

Alex Levy
clock 01 September 2026 • 2 min read