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
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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 ...

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