DB transfer values jump to record high in July - XPS

Despite risks

Sophie King
clock • 1 min read

Defined benefit (DB) transfer values continued to increase to yet another record high during July but the number of people opting to exit final salary schemes remains steady, according to XPS Transfer Watch.

XPS Pensions Group's Transfer Value index rose from £259,700 at the end of June to £261,500 on 30 July, before falling back to end the month at £260,700. According to the group, the increase was a result of a fall in gilt yields throughout July. XPS's 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 £10,000 each year, starting at age 65. It increases each year in line with inflation. Elsewhere, XPS' Transfer Activity index fell during July. However, the number of completed transfers remained around t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Financial literacy shortfalls putting savings at 'risk'

Financial literacy shortfalls putting savings at 'risk'

Industry urged to build engagement with savers so they do not make wrong decisions

Holly Roach
clock 13 March 2025 • 2 min read
FOS upholds complaint against Options Pensions over SIPP due diligence failure

FOS upholds complaint against Options Pensions over SIPP due diligence failure

Investment in unregulated Spanish business

Isabel Baxter
clock 04 February 2025 • 2 min read
FOS favours Pathlines Pensions SIPP clients in first post-rebrand cases

FOS favours Pathlines Pensions SIPP clients in first post-rebrand cases

SIPP operator failed to carry out due diligence, FOS finds

Jen Frost
clock 17 January 2025 • 2 min read