16 May 2019
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.