Sector Brief 2026

Pension Transfer Lead Generation Benchmarks 2026

Pension transfer acquisition is the most regulation-shaped segment in the 2026 dataset, with structural CPL elevation driven by FCA guidance and eligibility filtering.

Headline benchmarks

£245

CPL median

Blended

3.1%

Landing-page conversion

All

12-18%

Appointment-to-completion

All

Benchmarks

Blended CPL median is £245 across platforms. Landing-page conversion median is 3.1 percent. Appointment-to-completion sits at 12 to 18 percent.

Performance characteristics

FCA guidance continues to suppress demand. Eligibility filtering is strict: safeguarded benefits, transfer value thresholds, and defined-benefit vs defined-contribution distinctions all shape top-of-funnel economics.

Risk factors

  • Ongoing regulatory scrutiny and redress exposure.
  • Rising PI insurance costs specific to DB transfer permissions.
  • Public and media scepticism of transfer propositions.

Growth trends

Demand previously addressed by transfer propositions is being absorbed by retirement income planning, flexi-access drawdown, and consolidation categories.

Key points

  • CPL is structurally 2-3x generalist adviser acquisition.
  • Demand remains suppressed by FCA guidance.
  • Adjacent categories (retirement income, drawdown) absorbing demand.
  • Eligibility filtering dominates economics.
Annual reference

This sector brief draws on the 2026 annual dataset. For full methodology and cross-sector comparisons, see the annual edition.

Read the 2026 annual report