Article

Perspectives: the impact of defined benefit transfers on the pensions industry

December 19, 2017
| United Kingdom

Pension freedoms have resulted in a big change in the UK pensions landscape, with far more impact than was originally anticipated being felt by defined benefit (DB) schemes. High levels of member interest, increased volumes of assets leaving DB schemes and significant activity in the IFA community has seen the focus of press and industry attention switch to the issue of DB transfers. While many are feeling the immediate impacts, the industry also needs to think about the longer term and how this change will affect the future.

Perspectives: the impact of defined benefit transfers on the pensions industry sets out a series of articles from Willis Towers Watson’s experts on the immediate and future effect of pension freedoms for DB schemes, their members, sponsors, trustees and policymakers. By reading these articles you will have a fuller picture of where the industry stands today, and what challenges lie ahead for the various stakeholders to consider. The world we now live in has a new reality of DB transfers, and it is only by understanding the wider impacts that the decisions made and actions taken now will be fit-for-purpose to reflect the new norm.