Falling gilt yields drive DB transfer values to record high - XPS

XPS said this new peak surpassed the previous record of £264,300 which was hit on 24 August of this year. "The increase was driven by continued high future inflation expectations combined with a dip in gilt yields." Mark Barlow, partner at XPS Pensions Group said despite this, transfer activity has yet to recover to pre-pandemic levels, perhaps a result of members finding it more challenging to access financial advice. The transfer activity index showed that an annualised rate of 56 members out of every 10,000 transferred their pension, which was a slight fall from the 62 registered i...