Pension Transfer Lead Generation Benchmarks 2026
Pension transfer acquisition is the most regulation-shaped segment in 2026 benchmarks, 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.
This sector brief uses the same 2026 benchmark methodology as the annual report. For full methodology and cross-sector comparisons, see the annual edition.
Read the 2026 annual report