DB transfer take-up levels hit 'all time low', LCP finds

Consultancy says average transfer values hit £333,000, the second lowest level since 2015

Jasmine Urquhart
clock • 1 min read
DB transfer quotation take-ups and transfer values have reached low levels in 2023, LCP says
Image:

DB transfer quotation take-ups and transfer values have reached low levels in 2023, LCP says

Average transfer take-up rates have hit an “all time low” while transfer values have hit their second lowest level since Q2 2015, analysis by Lane Clark & Peacock (LCP) has found.

The firm's defined benefit (DB) transfer report for Q1 2023 showed only 3% of transfer quotations have been taken up, the lowest level since LCP's survey began in 2014, and down from the 2017 high ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

SPP finds strong support for consolidator gateway tests

SPP finds strong support for consolidator gateway tests

Industry says a public sector consolidator should be aimed at small, fully funded schemes

Jasmine Urquhart
clock 17 July 2024 • 1 min read
Tender Watch: Nest extends partnership with Nexer Digital

Tender Watch: Nest extends partnership with Nexer Digital

Two-year contract extension worth up to £1.3m following two ‘successful’ years

Professional Pensions
clock 15 July 2024 • 1 min read
Professional Pensions' DB Funding Index

Professional Pensions' DB Funding Index

How the funding of defined benefit pension schemes is changing

Jonathan Stapleton
clock 09 July 2024 • 1 min read
Trustpilot