All change for
DB transfers - issue 16
14 August 2019
Transfer quotation activity continues to slow-down and there is evidence of a declining interest from younger members.
- In Q4 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 Q4 2018, only 23% were taken up; this is the lowest take-up rate we have seen since Q2 2016.
- The total value of payments in respect of quotations provided in Q4 2018 fell to £43m with an average size of £396,000; this compares to the peak for quotations provided in Q1 2017 (£92m paid out with an average size of £627,000) and is the lowest total value since Q2 2016.
- The overall take-up rate in Q4 2018 was 23%; this is down from the previous quarter (26%) and much lower than the previous high of 34% (Q3 2017).
Accounting for Pensions 2019 - May report
Thought leadership report
With the FTSE 100 maintaining their pension accounting surplus, it is time for companies to embark on the next stage of their pensions journey.Explore our findings