DB transfer take up near record lows, LCP says

Most recent data for Q4 2023 shows average quotation stood at £143,000

Jasmine Urquhart
clock • 1 min read
LCP says DB transfers have hit near ten-year lows in 2023
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LCP says DB transfers have hit near ten-year lows in 2023

Defined benefit (DB) transfer take-up rates stood at 4% during Q2 2-23, a near record low, data from Lane Clark & Peacock (LCP) shows.

During the last quarter for which there is full data, average transfer values paid stood at £198,000, a nine-year low since LCP started collecting data in Q1 2014. During that quarter, the total...

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Jasmine Urquhart
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Jasmine Urquhart

Senior Correspondent at Professional Pensions

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