DB transfer values hit lowest month-end figure in five years

The consultancy's Transfer Value Index - published today (25 October) - dropped during the month by more than 3% to £154,000, which is 15% lower than the same time last year, largely driven by the increase in gilt yields and stable inflation expectations. Transfer values since the index was first launched in June 2018 have now dropped by a third. The firm's Transfer Activity Index also fell last month to an annuitised rate of 21 members in every 1,000 transferring their benefits. XPS said the volume of activity during Q3 2023 is "considerably lower" than the previous quarter. It al...