Activity in the defined benefit (DB) transfer market fell to its lowest levels for nine months in April with a drop of 12%, according to analysis from XPS.
The pension consultancy's DB transfer activity index was down 12% last month with an annualised rate of 34 members per 100,000 transferring out of their current scheme into an alternative arrangement. The group's transfer value index fell by 4% during the month - finishing at £169,000 and returning to a similar level as February 2023. XPS said the fall was "primarily due to a slight rise in gilt yields over April, coupled with decreasing long-term inflation expectations". The consultancy also monitors potential scam activity across DB transfers. Its scam flag index reported that in Ap...
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