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All change for
DB transfers - issue 15

Our viewpoint

Transfer quotation activity continues to slow-down and there is evidence of a declining interest from younger members.

  • In Q3 2018, the latest set of quotations for which full payment experience has been realised, take-up rates have fallen since the previous quarter. Of quotations issued in Q3 2018, only 26% have been taken up. This is the lowest rate we have seen since Q3 2016 and its down from a high of 34% in Q3 2017.
  • Over the 12 months to 31 March 2019 our administration teams have provided transfer value quotations to 6% of deferred members with a value of £572m in total. The take-up rate in Q3 2018 was 26%; this is down from the previous quarter (30%) and much lower than the previous high of 34% (Q3 2017).
  • Take-up rates continue to be highest for transfers over £250k with a take-up rate of 39% in Q3 2018. Read our latest update issue 15 to learn more.

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

Click here to read the update

 

Accounting for pensions 2018 - Autumn report

Accounting for pensions 2018 - Autumn report

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