Defined benefit (DB) transfer values were down as much as 3.7% month-on-month at the end of June, according to the latest Xafinity transfer value index.
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...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes