17 March 2020
Transfer quotation activity continues to slow-down as the transfer quotation rates fall to lowest level for over 3 years.
- The number of transfer quotations in Q4 2019 was down 17% from the previous quarter, with 1.2% of deferred members receiving a quotation in this quarter. This continued the fall off in activity seen in Q3 2019 and is the lowest level of transfer quotation activity since Q3 2016.
- Take-up rates were also down this quarter with 22% of quotes paid out. This is well below the average take-up rate over the last 3 years of 28%.
- Of the quotes paid out, 73% were for members aged 55 and over; this is the highest proportion since we started our analysis on 1 January 2014.