DB transfer values have halved since pandemic, analysis finds

Transfer quotations fell by 20% over the last four years

Jasmine Urquhart
clock • 1 min read

Cash equivalent transfer values (CETV) for defined benefit (DB) schemes have halved compared to pre-pandemic levels, according to Barnett Waddingham analysis.

The consultancy found transfer values fell by 50% in the last four years, while transfer quotations fell by 20% in the same period. The previous quarter saw a relatively low number of quotations, the third lowest quarter following Q2 2020 and Q4 2022. April to June also saw the lowest number of transfer payments since the data was first collected. Barnett Waddingham also found the average CETV for a 60-year-old reduced by around 23% in the twelve months to 30 June 2023, and fell by around 10% in Q2 2023, with both changes due to rises in gilt yields. Barnett Waddingham partner Liam...

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 Your profession

Trial of former Titan Wealth employee rescheduled as defence prepares abuse of process argument

Trial of former Titan Wealth employee rescheduled as defence prepares abuse of process argument

Prosecution ready to proceed but court agrees to delay trial until late August

Sahar Nazir
clock 09 May 2025 • 2 min read
Professional Adviser TV: Female leadership and overcoming business barriers

Professional Adviser TV: Female leadership and overcoming business barriers

With WIFA winner and short lister Frankie Smith

Professional Adviser
clock 09 May 2025 • 1 min read
The 'quick way' to lose your clients' trust

The 'quick way' to lose your clients' trust

Clients are disengaging rather than firing their advisers, conference hears

Sahar Nazir
clock 09 May 2025 • 2 min read