DB transfer analysis doubles

Pension savings-2015The number of defined benefit scheme members researching transfers through advisers has more than doubled since pension freedoms were introduced, according to pension and investment software provider Selectapension.

The firm, which delivers pension transfer analysis functionality to a large proportion of the IFA market, has seen a 110 per cent increase in the number of cases analysed in 2015/16, compared to 2014/15.

The company has processed over 150,000 cases since April 2015 across all its service channels.

Selectapension managing director Andy McCabe says: “A year since the pension freedoms were introduced, business has progressed dramatically for Selectapension. We have seen strong demand from advisers who support clients looking to take advantage of the newfound flexibilities offered.”