The number of people transferring out of defined benefit (DB) schemes each month doubled over the last year, according to figures from Xafinity.
The administrator's figures show that the number of transfers it handled increased sharply in June, and peaked in October, while November's figures were still almost twice the level seen in January. ...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter