22 November 2017
In this issue we find:
- Quotation rates have maintained their high levels throughout this year. While Q3 2017 figures show a small decrease from Q2, the proportion of deferred members requesting quotations has been stable during 2017 with around 2% of deferred members now requesting a quotation every quarter. The next few quarters will show if this level becomes the “new normal” for quotation activity.
- The total amount transferred out from LCP administered schemes was over £90m for quotations provided in Q1 2017, a 250% increase compared to the same period in 2016 and nearly 30 times the level when we started our analysis in Q1 2014.
- The average transfer value paid out was over £600,000, more than 2 1/2 times the average house price in the UK.
How do DB schemes communicate retirement options?
Did you know 90% of schemes only start to communicate with members about their retirement options as they approach scheme retirement age?Discover our survey findings