Defined benefit (DB) pension transfer values rose by more than 2% in October, according to the XPS Pensions Group transfer value index (TVI).
The index started the month with its indicative transfer value standing at £230,000 before ending at £235,000, which represented a 2.1% increase. The rise was not a smooth one, however – the difference between maximum and minimum readings of the TVI during October was £8,600, or a swing of about 3.6%.
XPS Pensions Group head of DB growth Sankar Mahalingham attributed the increase in transfer values to a drop in gilt yields and an increase in inflation over the month.
XPS Pensions Group PLC (LON:XPS) operates as an employee benefit consultancy firm. The Company offers pensions actuarial, administration, compliance, and advisory services. Following their merger of Xafinity and Punter Southall in January 2018, XPS Pensions Group became the largest purely pension consulting and administration firm in the UK.
