DB pension transfer activity falls to lowest level in nine months

Transfers fell by almost 12% in April, according to analysis

Jenna Brown
clock • 1 min read

Activity in the defined benefit (DB) transfer market fell to its lowest levels for nine months in April with a drop of 12%, according to analysis from XPS.

The pension consultancy's DB transfer activity index was down 12% last month with an annualised rate of 34 members per 100,000 transferring out of their current scheme into an alternative arrangement. The group's transfer value index fell by 4% during the month - finishing at £169,000 and returning to a similar level as February 2023. XPS said the fall was "primarily due to a slight rise in gilt yields over April, coupled with decreasing long-term inflation expectations". The consultancy also monitors potential scam activity across DB transfers. Its scam flag index reported that in Ap...

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

 Rachel Vahey: Advisers and clients still need clarity on NMPA increase

Rachel Vahey: Advisers and clients still need clarity on NMPA increase

'HMRC has had years to clear this up but has sat on its hands'

Rachel Vahey
clock 11 March 2026 • 4 min read
Pension freedoms exposed a longevity problem we still refuse to confront

Pension freedoms exposed a longevity problem we still refuse to confront

'The gap between product complexity and consumer understanding is not narrowing'

Julia Fintz
clock 11 March 2026 • 4 min read
Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Complex Hartley Pensions administration continues amid 'misappropriated funds' investigation

Administration expected to conclude in 2027

Isabel Baxter
clock 10 March 2026 • 3 min read