Defined benefit (DB) transfer activity in March fell to its lowest level since September last year, according to data from XPS Pensions Group.
The consultancy's Transfer Activity Index showed an annualised rate of 38 members per 100,000 who transferred out of the current scheme into an alternative arrangement. The company noted while the index reported a slight increase in transfer activity at the start of the year, it had now fallen to its lowest level since September 2022. The firm reported its Transfer Value Index increased by approximately 4% during March to £175,000, which the firm said was driven by a slight decrease in gilt yields over the course of the month. According to the XPS Scam Flag Index, 90% of cases which w...
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