The Transfer Activity Index experienced a significant drop of almost 12 per cent in April, according to the latest data from XPS Pension Group.
The annualised rate of transfers out of current pension schemes to alternative arrangements stood at 34 members per 100,000, marking the lowest activity observed in nine months.
Additionally, XPS’s Transfer Value Index also saw a decline of nearly 4 per cent throughout April, reaching a value of £169,000 by the end of the month.
This brings the index back to a similar level as recorded in February 2023.
The decrease can be attributed to a slight increase in gilt yields during April, accompanied by diminishing long-term inflation expectations.
