All change for DB transfers? Issue 8

7 August 2017

Transfer quotations and take-up rates have continued to increase from their previous historically high levels.

The number of quotes is now five times the level since we began our analysis (which was for the first quarter 2014). More than 4% of deferred members requested a transfer value quotation in the first half of 2017.
The number of members taking transfers is up to nearly seven times the level since we began our analysis.
A third of transfer quotations provided in the last complete quarter were taken up, the highest take-up rate since we began our analysis; this rises to 44% for quotations above £250,000.
The total amount transferred out from LCP administered schemes was nearly £60m for quotations in the latest complete quarter, 18 times the figure of £3.3m for Q1 2014 when we began our analysis.
The average transfer in 2016 was £470,000, more than double the average house price in the UK.

Speak to our experts Bart Huby or Jim Little for more information.

All change for
DB transfers - issue 8