Transfer values remained stable during July 2017, falling by less than one per cent, Xafinity has reported.

According to the Xafinity Transfer Value Index, transfer values dropped by less than one per cent from £232,000 at the beginning of July to £230,000 at the end of July.

The difference between the maximum and minimum readings over the month was around 2.5 per cent or £6,000. This comes after a period of significant volatility in the second quarter of 2017.

In June, the Index recorded a difference of £13,000 between the minimum and maximum values, and an overall transfer value decrease of 3.7 per cent over the month.

Xafinity head of DB growth Sankar Mahalingham commented: “Transfer values stayed fairly stable during July 2017, compared to the volatility in transfer values that we saw over Q2 of 2017. It remains to be seen whether this period of relative calm will continue over the remainder of the summer.”

The Xafinity Transfer Value Index tracks the transfer value that would be provided by an example DB scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 (increasing each year in line with inflation).

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