Average DB transfer complainant to receive no compensation

Broadstone’s DB Redress Tracker shows typical redress compensation continues to fall

Jasmine Urquhart
clock • 1 min read

The average defined benefit (DB) transfer complainant is likely to receive no compensation, according to Broadstone.

The consultancy's DB Redress Tracker, which uses the example of an individual who had left their scheme in 2018 aged 50 with a £10,000 per year pension, showed typical pension redress compensation continues to fall, with some or most cases having no redress. The tracker, which is developed in line with Financial Conduct Authority rules for calculating redress, showed the trend of falling redress continued in 2024 and accelerated in Q4 following rising gilt yields, which decreased the assessed value of transferred DB liabilities, with asset values rising more. Broadstone said the track...

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Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

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