People’s Partnership has launched the latest edition of its Transfer Outcomes Index, which shows that losses from poorly informed pension transfer decisions have increased by half a billion pounds in just 18 months, with savers now at risk of losing £1.7bn a year.
The Index reveals how much could be at risk across all the people who switched their pension in the twelve months to 30 June 2025 from low-cost workplace pensions, which are subject to a charge cap, to high charging retail options, which are not. It is based on the likely scenario that they will continue to consolidate future workplace pension savings into the same retail or non-workplace pension until they retire.
The latest version of the index shows that the scale of losses is surging as transfer activity continues to rise, with losses increasing by 42% from the £1.2bn at risk from decisions made in 2023. The figure has risen in each of the past five years, and is up more than 120% from 2020, when it was £792m. People’s Partnership now forecasts that detriment will exceed £2bn by 2027, earlier than its previous forecast of reaching this level by 2030.
Download the full ‘Transfer Outcomes Index’ research report
Previous years
Download the full research report ‘Transfer Outcomes Index 2023-24’