Pension transfer values below £200,000 for first time since 2016

The sustained fall in the index over 2022 has been driven by rises in long-term gilt yields, which reached 3.3% per annum at the end of August. Rising gilt yields have meant that many transfer values on offer are now lower than at any point in the last five years, including during the market shock caused by the emergence of the pandemic. XPS head of member options Mark Barlow said: "While some pension scheme members may decide whether to transfer based on prevailing market conditions, others may be driven to transfer out of necessity during the current cost-of-living crisis." An annua...