Defined benefit pension transfer values increased broadly throughout February, before dropping sharply to end unchanged over the month, according to the XPS Pensions Group Transfer Value Index.
The index ended February at £235,000 - the same as at the end of January. The difference between maximum and minimum readings through the month was £5,100, or around 2.1%. February's volatility was similar to that observed in January, when the value as displayed by the index moved up and down throughout the month, before ending at £235,000 - again, the same value as the end of December. XPS's index tracks the transfer value that would be provided by a hypothetical defined benefit (DB) scheme to a member aged 64 who is entitled to a pension of £10,000 each year, starting at age 65. It ...
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