Transfer values dipped below £150,000 due to an increase in gilt yields
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Transfer values rose by 4% to £175,000 as a result of a fall in gilt yields
Decline primarily due to steady rise in gilt yields through February
Average transfer values drop while 90% of requests have scam warning flags
Defined benefit (DB) pension transfer values recovered by about a third last month after February’s sharp fall, according to figures from XPS Pensions Group.
Pension transfer values ended 2020 at £259,000, 8% higher than the start of the year, according to XPS Pensions, after suffering periods of substantial volatility linked to the pandemic while potential scams reached record highs.