Pensions - Articles - Transfer activity increases again say actuaries at Xafinity

  

 

 Across a sample of pension schemes administered by Xafinity the volume of transfer quotation requests was, on average, 80% higher in June and July than in January and February of this year.

  

 Paul Darlow, Head of Proposition Development at Xafinity, comments

 “Despite the difficulties that some individuals report in finding a financial advisor to advise them in connection with transferring their benefits, the level of transfer quotations being requested suggests a continued increase in members’ interest in exploring this option.

  

 Whether the volume of transfers actually proceeding will also increase remains to be seen, and is likely to depend to some extent on the stance that advisors take. Since this market continues to evolve we suggest that Trustees make sure they have considered the challenges posed by an increase in transfer activity – the Pensions Regulator’s guidance in this area is helpful.”