DB transfer values drop to lowest month-end since 2018

XPS' Transfer Value Index saw ‘significant decline’ in final quarter of 2024

Holly Roach
clock • 2 min read

Defined benefit (DB) transfer values fell to the lowest month-end figure since 2018 in December, analysis by XPS Group has shown.

The consultancy's Transfer Value Index showed during December 2024, DB transfer values dropped to the lowest month-end values in seven years, despite remaining "relatively stable" throughout most of the year. XPS said its index saw a "significant decline" in the final quarter – dropping by nearly 5% during December – largely driven by a rise in gilt yields towards the end of the year along with flat inflationary expectations. Source: XPS Group The firm's Transfer Activity Index also showed the level of transfers remained relatively low during 2024, with December showing an annu...

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