Transfer value experience – Q2 2021

We have analysed defined benefit (DB) cash equivalent transfer values (CETVs) over the twelve months to 30 June 2021. 

For trustees, interest from members in transfer quotes has picked up and appears to be returning to more normal, pre-pandemic levels.

Sponsoring employees will be interested in the pick-up in bulk exercises coming to the market and should consider if and how a bulk transfer exercise could be part of their strategic ‘journey plan’ to de-risk their DB plan.

For members, transfer value amounts will have fallen back from the heights of last summer with a widening gap between those members with predominantly fixed increases in payment and those with predominantly inflationlinked ones. However, transfer value amounts will still look high compared to historical levels.

For more information, download our briefing note today.