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DB transfer activity remains low as transfer values stabilise


By Sophie Smith

Defined benefit (DB) pension transfer activity increased slightly over the past month from the record low seen in April, whilst the value of a typical transfer remained stable after falling to its lowest point in six months in April, analysis from XPS Pensions Group has found.

XPS’s Transfer Activity Index recorded a slight increase in May 2024, with an annualised rate of 19 members in every 1,000 transferring their benefits to alternative arrangements, up from 14 members in every 1,000 in April


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European Metal Recycling pension scheme agrees £33m buy-in with Aviva

The trustees of the European Metal Recycling Limited Pension and Life Assurance Scheme have completed a £33m buy-in with Aviva, covering the defined benefit (DB) pension liabilities of 217 deferred and pensioner members

Story 3

DB schemes taking steps to manage risks as funding positions improve

Defined benefit (DB) pension schemes have taken advantage of last year’s “relative calm” to make progress on endgame planning, net-zero targets, and tackling diversity, equity and inclusion (DE&I) issues, research from LCP has revealed

Story 4

IGG launches alternative governance model for small schemes

Independent Governance Group (IGG) has launched a services model, IGGnite, providing streamlined and cost-effective professional trusteeship and scheme management services for smaller pension schemes

Story 5

Third-party pension contributions a 'closely guarded secret' amid lack of saver awareness

The majority (76 per cent) of people are unaware that they can pay money into someone else’s pension, whilst even those who are aware are unlikely to consider doing it, research from Nucleus has revealed

Story 6

Quarter of UK adults expect to ‘never really retire’

Nearly a quarter (24 per cent) of UK adults expect to ‘never really retire’, research from Phoenix Group has found, highlighting a "significant" difference in perceptions around how people have retired in the past and what this could look like in future decades

Story 7

£391k more needed to rent in retirement

People renting in retirement could need an additional £391,000 in savings compared to those who have paid off their mortgage, research from Standard Life has revealed

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