Pension transfer values as measured by the XPS Pensions Group Transfer Value Index increased substantially during March, peaking at almost £251,000; before losing some of those increases to end March 2019 at £244,900, an increase of £9,700 on the previous month end. |
The difference between maximum and minimum readings of the XPS Pensions Group Transfer Value Index over March 2019 was £15,600 (or around 6.2%).
Sankar Mahalingham, Head of DB Growth, XPS Pensions Group comments: “The movements in the transfer value index during March were largely driven by gilt yields, which fell by as much as 0.35%, and ended the month around 0.3% down. Inflation also increased by as much as 0.15% but ended the month unchanged from the previous month end.
“Gilt yields were observed to drop markedly during the period from 19-22 March, around the same time as debate and votes in the House of Commons led to a change in the proposed Brexit date. It is likely that further Brexit-related developments will continue to drive market movements for the foreseeable future.” |
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