Transfer values continue to plummet in April - XPS

This was caused primarily by a further rise in gilt yields and has offset increases in long-term inflation expectations, it said. The month-end average for XPS' transfer value index was £245,000 on 31 March - a fall of 2% compared to February. Overall, it was 9% lower then than the peak recorded for November last year, according to XPS. 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. A similar pattern was ...