Transfer values continue to fall in May - XPS

Lowest since June 2016

Julia Bahr
clock • 2 min read

The recent fall in defined benefit (DB) pension transfer values continued to accelerate in May, with the month-end value at £217,000, the lowest since June 2016, according to pension consultancy XPS. 

The fall of 7% over May was due to a further increase in gilt yields and a further fall in long-term inflation expectations, despite the continued current high inflation rates, it said. In April it was £232,000, representing a drop of 5% compared to the end of March. The firm also found that the rate of members completing transfers recorded in the XPS transfer activity index rebounded slightly to an annualised rate of 37 members per 100,000 in May, after a six-month period of decline. In April, the number of members completing transfers fell to an annualised rate of 35 members out of ...

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

Initial 900 SIPP clients transfer out of stricken Hartley Pensions

Initial 900 SIPP clients transfer out of stricken Hartley Pensions

Hartley went into administration in July 2022 over ‘toxic’ investments

Jenna Brown
clock 07 January 2025 • 1 min read
Overseas pension transfers: How recent rule changes impact recent and future advice

Overseas pension transfers: How recent rule changes impact recent and future advice

Daniel Bosiacki looks at recent rule changes that affect overseas pension transfer advice...

Daniel Bosiacki
clock 06 January 2025 • 3 min read
Exploring pensions outsourcing as a route to unlocking efficiencies

Exploring pensions outsourcing as a route to unlocking efficiencies

'Unlocks the potential for iterative improvement'

Julia Fintz
clock 24 December 2024 • 7 min read