Defined benefit (DB) transfer values as measured by the Xafinity Punter Southall (XPS) Pensions Group Transfer Value Index fluctuated during May 2018, with an overall rise throughout the month.

At the end of April 2018, the index was displayed a figure of £232,000 which is £2,000 less than the £234,000 figure reported at the end of May.

The difference between maximum and minimum readings of the XPS Pensions Group Transfer Value Index over May 2018 was £5,700, equal to a 2.4 per cent shift.

At the same time last year, DB transfer values were a reported £241,000.

XPS Pensions Group head of DB growth Sankar Mahalingham said: “There was a rise in transfer values between the start and end of May, due mainly to a fall in gilt yields during the second half of the month, with inflation remaining relatively stable. Transfer values remain close to historic highs, but have not been very volatile, a trend that we have seen since the start of the final quarter of 2017.”

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