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

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Defined Benefit

Partner Insight: £ Billion+ transactions - driving innovation across the risk settlement market

Partner Insight: £ Billion+ transactions - driving innovation across the risk settlement market

Mike Edwards, Partner, Aon
clock 06 November 2024 • 5 min read
Tender Watch: Cadent Gas Pension Trustee selects Northern Trust as custodian

Tender Watch: Cadent Gas Pension Trustee selects Northern Trust as custodian

Appointment follows detailed due diligence exercise that was managed independently

Professional Pensions
clock 30 October 2024 • 1 min read
Mixed industry views on DB run-on, SPP finds

Mixed industry views on DB run-on, SPP finds

SPP and APL survey of pension professionals finds minority think run-on is viable long-term strategy

Jasmine Urquhart
clock 23 October 2024 • 1 min read
Trustpilot