'Coronavirus fears drive DB transfer value rise in February'

Up 1.6% in February

Hannah Godfrey
clock • 1 min read

Defined benefit (DB) transfer values rose during February as a result of market turbulence caused by the coronavirus, according to XPS Pensions Group.

XPS Pension Group's transfer value index (TVI) rose from £245,800 at the end of January to £249,700 at the end of February, representing a 1.6% increase. XPS said the movement was driven by a 0.1% fall in gilt yields, with inflation expectations barely moving during 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. Elsewhere, the group's transfer watch, which monitors how market developments have aff...

To continue reading this article...

Join Professional Adviser

  • 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

Cost of living driving uptick in overseas retirement considerations

Cost of living driving uptick in overseas retirement considerations

Two-in-three Brits approaching retirement have considered moving

Mark Battersby
clock 02 December 2022 • 2 min read
Retirement plans falling by the wayside amid cost of living adversity

Retirement plans falling by the wayside amid cost of living adversity

Survey shows many pre retirees are considering working in retirement

Hope William-Smith
clock 14 November 2022 • 2 min read
Only 1/4 advisers confident of meeting clients' retirement goals

Only 1/4 advisers confident of meeting clients' retirement goals

Advised investors less pessimistic about their retirement prospects

Ayesha Venkataraman
clock 31 October 2022 • 3 min read