Pension transfer values fluctuated throughout May, ultimately resulting in a rise by the end of the month, according to the XPS Pensions Group (formally Xafinity) transfer value index (TVI).
The month began with a transfer value of £232,000, and ended at £234,000. The difference between maximum and minimum readings of the TVI during May was £5,700, or about 2.4%. XPS Pensions Group head of DB growth Sankar Mahalingham put the rise in value down to a fall in gilt yields. "There was a rise in transfer values between the start and end of May, due mainly to a fall in gilt yields during the second half of the month with inflation remaining relatively stable," he said. "Transfer values remain close to a historic high, but have not been very volatile, a trend that we have see...
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