All change for DB transfers - Issue 29

Our viewpoint

Transfer values fall to their lowest levels in 7 years – as do quotation rates

  • + The average quotation size in Q3 2022 was £252,000, down 24% from £330,000 in Q2 2022. This is the lowest figure for over 7 years and coincides with a sharp rise in government bond (gilt) yields.

  • + After a significant drop in Q2 2022, the quotation rate has continued to fall in Q3 2022. LCP’s administration team issued 100 quotations for every 10,000 members, 11% lower than the Q2 2022 figure and the lowest rate for almost 7 years.

  • + The take-up rate for quotations issued in Q1 2022 was 15%, the second lowest rate since 2015. This compares with a take-up rate of 23% for quotations issued in Q4 2021. This drop is the largest between any two successive quarters since we started our analysis in 2014.

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

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