Defined benefit (DB) transfer values stayed flat throughout March following a rise in February, according to the latest Xafinity Transfer Value Index (TVI).
Throughout last month, transfer values fell by about 1% to £235,000, Xafinity found.
The index tracks the transfer value that would be provided by an example defined benefit scheme to a member aged 64, who is currently entitled to a pension of £10,000 each year starting at age 65. It increases each year in line with inflation.
According to the index, March continued a period of relative calm during the first quarter of the year. In fact, the difference between maximum and minimum values recorded by the index during the course of Q1 was a mere £7,000 (about 3%).
However, the pension service pointed out different schemes calculate transfer values in different ways, therefore individuals may receive a transfer value from their scheme that is significantly different from that quoted by the Xafinity index.
Nevertheless, the relative calm of early 2017 stood in stark contrast to a turbulent 2016. Transfer values increased from a value of £210,000 during June to about £244,000 in October - a difference of roughly £34,000.
Xafinity head of proposition development Paul Darlow (pictured) said: "March 2017 was pretty unremarkable from the point of view of transfer values which stayed fairly stable.
"With article 50 having now been triggered we may see some additional volatility in financial conditions. If so, this period of stability could prove to be relatively short-lived."
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