DB transfer values back on the rise in August

The value of Xafinity's hypothetical pension rose steadily over the month to a 3% gain, increasing from £230,000 at the beginning of August to £237,000 by the end of the month. The difference between maximum and minimum value readings throughout the month was £9,000 - or about 3.6%. Xafinity's index 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. The firm credited reductions in gilt yields as being the main driver behind ...