DB transfer values slump at end of June

The transfer value of Xafinity's imaginary pension at the end of June was £232,000, compared with £241,000 at the end of May. Xafinity tracks the transfer value that would be provided by an example DB scheme to a member aged 64 who is entitled to a pension of £10,000 each year, starting at age 65. It increases each year in line with inflation. June was also a volatile month for transfer values, the firm found, with the difference between minimum and maximum Xafinity readings swinging by about 5.2% (£13,000). This followed a volatile 12 months for DB transfer values but levels still...