Record numbers exchanging DB benefits for cash

Trustees Agenda posted on 7 June, 2017

According to data provided by The Pensions Regulator to Salisbury House Wealth, 80,000 workers transferred out of their employer's DB scheme in the year ending 31 March 2017.

Salisbury House Wealth reported that transfer values have increased dramatically recently. The average transfer value for a DB scheme is around £213,000, but can reach up to £1.2m for a £40,000 income.