Pension transfer values down in January - XPS

The XPS Pension Group's Transfer Value Index fell again in January to a month-end average of £253,000, which is 2% lower than it was at the end of December. The fall was largely due to a continued increase in gilt yields over the course of January and came despite the rises in inflation expectations, the pensions firm said. XPS Pension Group's Transfer Value Index had climbed to a high of £270,000 at the end of November 2021 alongside expected inflation increases. The firm's data also suggested at the time that, despite the higher transfer values, transfer activity remained steady ...