Record high fees recorded after all-time transfer peak

Total fees paid by transferring DB scheme members reach highest levels since 2018

Hope William-Smith
clock • 2 min read
Record high fees recorded after all-time transfer peak

The record high defined benefit (DB) transfer values seen in August have resulted in the highest average transfer fees recorded by XPS Pensions Group.

Total fees paid by transferring DB pension scheme members in the year to 31 March 2021 are the highest since XPS began its member outcomes survey in 2018. The average ongoing cost - which has in...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

ONS estimates of very old increase in number

ONS estimates of very old increase in number

Around 15,000 have reached 100 or over as of 2024, compared to half as many 20 years ago

Jasmine Urquhart
clock 03 September 2025 • 2 min read
Tender Watch: Emerson selects LifeSight as master trust provider

Tender Watch: Emerson selects LifeSight as master trust provider

LifeSight will cover all active, deferred and drawdown members of the pension scheme

Professional Pensions
clock 27 August 2025 • 1 min read
FTSE 350 firms face 'financial risk' from early DB surplus access

FTSE 350 firms face 'financial risk' from early DB surplus access

Barnett Waddingham says firms will miss out on additional value if they access surpluses too soon

Holly Roach
clock 18 July 2025 • 2 min read
Trustpilot