DB transfer values hit record highs during August

This came as the Financial Conduct Authority (FCA) opened its review for redress for members receiving unsuitable transfer advice. XPS's transfer value 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. While the index fell back to £259,000 at the end of last month, XPS warned it remained high, driven by increasing inflation expectations and galling yields on government bonds. Partner Mark Barlow said: "The index r...