Transfer values remained stable over November, starting and ending on £232,000, Xafinity has found.

According to the Xafinity Transfer Value Index, the difference between the maximum and minimum readings of transfer values over November was £3,000, or 1.6 per cent.
The results follow a quiet October, in which transfer values rose by £1,000 to £231,000, having dropped from £240,000 to £230,000 over September.

Xafinity head of definied beneifit growth Sankar Mahalingham, said: “As we stated last month, the rise in the Bank of England Official Bank Rate in early November, which was the first for over 10 years, was widely anticipated by markets and did not result in a reduction in transfer values in November.

“Another rise is anticipated by the end of 2018, another delay in a rise (which until very recently, has tended to be the case) would mean an increase in transfer values.”

The Xafinity Transfer Value Index tracks the transfer value that would be provided by an example DB scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 (increasing each year in line with inflation).

Different schemes calculate transfer values in different ways. A given individual may therefore receive a transfer value from their scheme that is significantly different from that quoted by the Xafinity Transfer Value Index.

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