DB transfer values hit record high

XPS Pension Group's transfer value index jumped sharply to an all-time high of £258,200 on 21 August, up from £247,400 at the end of July. As a result, the group said, it had seen an increase in the number of transfer quotes being requested across some of their schemes. It also claimed some members chose to pay for an updated calculation as transfer values peaked. XPS's index tracks the transfer value that would be provided by a hypothetical 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 inflatio...