DB transfers increase 166% in Q1 - Xafinity

Requests for transfer value quotation up 70%

Victoria McKeever
clock • 2 min read

The number of defined benefit (DB) pension transfers 'skyrocketed' in Q1, according to the latest research from Xafinity, which reported a 166% increase year on year.

The research found the number of completed DB transfers had been relatively stable month on month up until October last year. Since then activity ‘increased significantly' and the number of transfers completed more than doubled. The figures, collected on a monthly basis, looked at the number of transfers completed at schemes Xafinity works with, as well as the number of requests for transfer value quotation received, which also increased 70% over the three month period. Xafinity said the upward trend looked set to continue as transfer values recorded by its Transfer Value Index (TVI) ...

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