Defined benefit transfers double since January

The administrator's data shows that the number of transfers it handled increased sharply in June, and peaked in October, while November's figures were still almost twice the level seen in January. The number of transfer quotations requested also increased markedly, with the number of monthly requests 50% higher in November than they were at the start of the year. The industry had been braced for an increase in transfers after defined contribution retirement regulations were relaxed in April to allow members to withdraw their cash however they want, subject to taxation. Xafinity hea...