Eight out of ten defined benefit schemes have taken some action to respond to the extra retirement flexibilities for defined contribution retirees introduced in April, research finds.
The survey by Aon Hewitt found a third now automatically provided retiring members with transfer quotes, and a further fifth intended to start doing so in the near future.
Two out of five of those schemes providing quotes in retirement packs also provided members with some access to financial advice to help them make decisions about the options available.
The firm said larger schemes had so far led the way in changing their processes and communications.
Aon Hewitt head of liability management Ben Roe said: "So far smaller schemes have generally not made significant changes with most simply choosing to include generic wording on the new flexibilities within regular newsletters and retirement packs.
"Large schemes have generally been at the forefront of introducing risk reduction measures so not surprisingly they have also led on making changes in response to the Budget, as more than a third are planning to quote transfers in the retirement pack.
"This in turn can lead to significant savings against funding and long-term targets. There is evidence that some companies are also taking advance credit for likely liability gains in their profit and loss."
But the survey found less than 10% of schemes were making any additional support available to members at retirement.
Roe said: "What is disappointing is the relatively low numbers of schemes which are offering meaningful support to members on what is now a more complex decision for them. Not only does additional support lead to better member decisions but our statistics show that this also leads to more members taking a transfer, which ultimately means more cost and risk reduction for companies."
The survey comprised more than 200 schemes.
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