70,000 DB members exercise pension freedoms each year, finds XPS

Holly Roach
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The firm’s survey revealed around 70,000 eligible members are leaving their occupational pension schemes
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The firm’s survey revealed around 70,000 eligible members are leaving their occupational pension schemes

XPS Pensions Group has revealed 70,000 defined benefit (DB) members are exercising pension freedoms each year, suggesting more education is needed to ensure better member outcomes.

Results from its second annual survey on member outcomes under freedom and choice tracked 1,800 transfers between June 2018 and March 2019, adding to the 6,000 transfers reported the previous year...

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