Research: DB Pension Transfer Research

Lemonade Reward surveyed some of the UK’s largest pension schemes to find out what they are doing about their defined benefit (DB) transfers.

Key findings:

• 85 per cent of employers fail to show DB pension transfer values on their annual statements and 81 per cent feel their DB scheme members receive transfer advice they do not understand.
• 44 per cent of employers receive between 10 and 100 DB transfer value requests a month, while 16 per cent are dealing with more than 100.
• Nearly two-thirds of employers do not have an online portal to help members explore transfer options and 81 per cent only allow one free request a year.

This research survey contains feedback from 63 companies representing 1,075,605 members.