DB transfer values volatile throughout September

Hit record high on 3 September

Hannah Godfrey
clock • 2 min read

Defined benefit (DB) transfer values varied significantly during September, while the number of XPS Pensions Group members requesting a transfer value remained low, according to the firm.

XPS's transfer value index reached a record high of £260,400 on 3 September before dropping sharply to a low of £247,700 just 10 days later. The index recovered to finish the month at £254,300, down slightly from £255,600 at the end of August. XPS said the movements were primarily driven by gilt yields over the month. 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 inflation. The index launched three years ago and ha...

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

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Perfect timing: How to advise clients on the right time to retire

Perfect timing: How to advise clients on the right time to retire

Striking a balance between health, wealth and personality

Richard Hulbert
clock 05 February 2024 • 4 min read
Baillie Gifford: Enjoying later life without an income from work

Baillie Gifford: Enjoying later life without an income from work

The latest from PA’ Digital Working Lunch webinar series

Professional Adviser
clock 12 December 2023 • 2 min read
Knowledge is power: How to help turn retirement dreams into reality

Knowledge is power: How to help turn retirement dreams into reality

Being on top of money is key to achieving retirement ambitions

Emma Barrow
clock 29 November 2023 • 6 min read