Pension transfer values remain stable over August

Defined benefit pension transfer values remained stable over August, fluctuating mildly over the month, according to the latest data.

As measured by the XPS Pensions Group Transfer Value Index, transfer values were £232,000 at the end of August, compared to £233,000 at the end of July.

The difference between maximum and minimum readings of the XPS Pensions Group Transfer Value Index over August 2018 was only £4,100 (or around 1.7 per cent).

Commenting, XPS Pensions Group head of DB growth Sankar Mahalingham said: “Transfer values remained very stable during August 2018, continuing the trend we have seen since September 2017. Both gilt yields and inflation have remained stable during the month.”

The XPS Pensions Group 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).

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