Summary
This document is a report detailing the findings of the 2025 Pension Risk Transfer Poll conducted by MetLife. The poll surveyed 231 defined benefit (DB) plan sponsors with de-risking goals, focusing on their strategies and perspectives regarding pension risk transfer. The report outlines significant transformations in the U.S. pension risk transfer market over the past decade, highlighting an increase in transaction volumes from under $14 billion in 2015 to nearly $52 billion by 2024. It discusses the motivations behind pension risk transfers, including managing financial volatility and improving funded statuses. Key findings indicate that 94% of companies with de-risking objectives plan to completely divest their pension liabilities, with a majority expecting to do so within five years. The report also identifies critical preparatory steps taken by plan sponsors, such as improving data quality and increasing contributions. Additionally, it notes that market volatility and interest rate changes are primary catalysts for initiating pension risk transfers, with a growing preference for annuity buyouts among companies.
