DB to DC pension transfers - attitudes in the UK 2014

This statistic displays the attitudes of employees between 50 and 64 years old to defined benefit to defined contribution pension transfer in the United Kingdom (UK) in 2014. More precisely, it looked into how much of their defined benefit pension people would like to transfer to a defined contribution pension. It was reported that 25% of respondents said they would not exchange any of their fund to a DC pension.

Transferring a defined benefit (DB) pension for a defined contribution (DC) pension in the United Kingdom (UK) in 2014

Characteristic	Share of respondents
None	25%
Some	24%
Half	11%
Most	7%
All of it	2%
Don't know	30%

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Release date

December 2014

More information

Region

United Kingdom

Survey time period

August 2014

Number of respondents

2,036 respondents

Age group

50 to 64 years old

Special properties

Employees working for medium and large non-governmental employers

Supplementary notes

The question was phrased as follows: "Most people who have not yet started receiving their annual DB pension will be able to exchange this for a pension pot that they can use as desired. In this situation, how much do you think you would be interested in exchanging?"
The source adds further comments: "Results are weighted to be representative of this population, based on age, gender, part-time or full-time and annual salary (matching data from the Office for National Statistics Labour Force Survey, January to March 2014)."

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