DB sponsors face £100bn bill as 500,000 members look to quit schemes

Michael Klimes
clock

Sponsors of defined benefit (DB) schemes could face a £100bn bill as members look to transfer to defined contribution (DC) arrangements to take advantage of incoming ‘freedom and choice' rules.

Research from Hargreaves Lansdown found almost 8% of DB members intend to transfer after the new rules come in this April while two thirds had no intention of moving their funds. With 6.87m defe...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Professional Pensions' DB Funding Index

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
clock 04 April 2025 • 1 min read
Tender Watch: Holcim appoints XPS Group and LPPA partners with Hackney Pension Fund

Tender Watch: Holcim appoints XPS Group and LPPA partners with Hackney Pension Fund

Holcim schemes appoint XPS for FM mandate and LPPA partners with Hackney Pension Fund

Professional Pensions
clock 03 April 2025 • 1 min read
Caravan and Motorhome Club scheme transitions to Standard Life plan

Caravan and Motorhome Club scheme transitions to Standard Life plan

Contract sees scheme join firm’s Group Flexible Retirement Plan

Jasmine Urquhart
clock 02 April 2025 • 1 min read
Trustpilot