Defined benefit (DB) transfer values increased by almost 3% over the course of July, according to the XPS Transfer Value Index.
The firm's transfer value index increased from £240,800 to £247,400 in July, which XPS said was driven by a reduction in gilt yields over the course of the month. The rise throughout July followed a month when transfer values fell slightly. The index ended June at a value of £240,800, down slightly from £241,500 at the end of May. XPS said the fall in June was driven by a slight reduction in expectations for future inflation. XPS's transfer value index tracks the transfer value that would be provided by a hypothetical DB scheme to a member aged 64 who is entitled to a pension of £10,0...
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