Pension transfer value index hits record high at end-Nov

Climbs to £270,000

Ayesha Venkataraman
clock • 2 min read

XPS Pension Group’s Transfer Value Index climbed to another high of £270,000 at the end of November alongside expected inflation increases, data released by the pension consultant shows.

XPS' Transfer Value Index estimates the cash transfer value of a 64-year-old member with an annual pension of £10,000 with typical inflation increases. It takes into consideration changes in the market over time, while also periodically reviewing mortality assumptions. The firm's data also suggested that, despite the higher transfer values, transfer activity remained steady at an annualised rate of 59 members out of every 10,000 transferring their pension. Mark Barlow, partner at XPS Pensions Group, said: "Increasing inflation expectations are continuing to drive ever-higher transfer ...

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

HMRC pays back £44m on overtaxed pension withdrawals

HMRC pays back £44m on overtaxed pension withdrawals

‘Outdated’ PAYE system causing headaches for people accessing pots

Jenna Brown
clock 24 October 2024 • 2 min read
Govt must act on decumulation support to ensure better outcomes

Govt must act on decumulation support to ensure better outcomes

Standard Life sets out three key decumulation policy asks

Jenna Brown
clock 23 October 2024 • 2 min read
Aegon calls for 'cool heads' as Budget speculation continues

Aegon calls for 'cool heads' as Budget speculation continues

Pre-Budget speculation over pensions tax reaches ‘boiling point’

Isabel Baxter
clock 23 October 2024 • 3 min read