Transfer values continue to fall in May - XPS

Lowest since June 2016

Julia Bahr
clock • 2 min read

The recent fall in defined benefit (DB) pension transfer values continued to accelerate in May, with the month-end value at £217,000, the lowest since June 2016, according to pension consultancy XPS. 

The fall of 7% over May was due to a further increase in gilt yields and a further fall in long-term inflation expectations, despite the continued current high inflation rates, it said. In April it was £232,000, representing a drop of 5% compared to the end of March. The firm also found that the rate of members completing transfers recorded in the XPS transfer activity index rebounded slightly to an annualised rate of 37 members per 100,000 in May, after a six-month period of decline. In April, the number of members completing transfers fell to an annualised rate of 35 members out of ...

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