Pension transfer values end volatile year 8% up; Scam 'red flags' at record high
Pension transfer values ended 2020 at £259,000, 8% higher than the start of the year, according to XPS Pensions, after suffering periods of substantial volatility linked to the pandemic while potential scams reached record highs.
Despite ending on a high, XPS said transfer activity was down 20% compared to 2019. It said about 75 defined benefit (DB) scheme members transferred in every 1,000 that were eligible. That was down from...
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Jump from 554 in 2019
