Pensions - Articles - Transfer Activity falls to lowest level since September 2022


XPS Pensions Group’s Transfer Activity Index fell slightly during March, with an annualised rate of 38 members per 100,000 transferring out of the current scheme to an alternative arrangement.

 Although there had been a slight increase in transfer activity at the start of 2023, the Index has now fallen back to the volume of transfers being seen around six months ago in August and September 2022.

 XPS’s Transfer Value Index increased by around 4% over March, finishing the month at £175,000, the same month end level as in January 2023. The increase is primarily due to a slight fall in gilt yields during the month.

 90% of cases reviewed by the XPS Scam Protection Service in March raised at least one scam warning flag, according to XPS’s Scam Flag Index. This represents a slight fall from the previous month and is the lowest the Index has been since May 2022.

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