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Displaying items by tag: Mark Barlow

Friday, 28 July 2023 13:39

DB transfer values fall by 8% in Q2 - XPS

DB transfer values fell 8% in the second quarter, according to the latest data from XPS Pensions Group.

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The XPS Pensions’ Transfer Watch monitoring service has flagged up 64% of recent pension transfers as showing signs of a potential scam, a record number.

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Defined benefit pension transfer values rose in February with Coronavirus fears spurring the rise, according to the XPS Transfer Watch Index, a monthly study of transfer values.

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Friday, 17 January 2020 16:34

Pension transfer values slip for fourth month 

December was the fourth month in a row where pension transfer values monitored by XPS fell, although the number of people making a transfer rose.  

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Transfer valued endured a volatile September, according to the latest data from XPS Pensions Group.
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Thursday, 29 August 2019 09:00

Transfer values hit all-time high in August

DB transfer values rose to record highs in August 2019, while the number of members requesting a transfer value continues to increase, according to XPS Transfer Watch.


XPS Pensions Group’s ‘Transfer Value Index’ jumped sharply to an all-time high of £258,200 on 21 August 2019; up from £247,400 at the end of July 2019.

The increase was said to have been “largely driven by a significant fall in gilt yields during August, partially offset by a small fall in inflation expectations”. 

XPS Pensions Group reported an increase in the number of transfer quotes being requested across some of its schemes, with some members choosing to pay for an updated calculation with transfer values at their peak. 

 

Mark Barlow, partner, XPS Pensions Group, said: “The impacts of recent volatile markets have seen transfer values increase steadily over the last two months, with an all time high in August.

“The continuing fall in gilt yields has pushed transfer values to new record highs, around 10% higher than they were this time last year.

“Although there is a lot of uncertainty around the future of the financial markets, an increase in transfer values will mean we are likely to see a lot of members investigating their options.
 
“Trustees and sponsors should ensure that members considering long term irreversible decisions are being provided with sufficient education and support to enable them to make the right decision for their circumstances and financial futures.

“We would also recommend schemes consider how the substantial changes in market conditions have affected the funding strategy and whether, in light of this, the transfer value basis remains appropriate.”

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Transfer values rose during July 2019, while the number of DB transfers also increased, according to XPS Transfer Watch, which monitors how market developments have affected transfer values for an example member, as well as how many members are choosing to take a transfer value.
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Tuesday, 17 October 2017 15:58

Xafinity recruits actuary from PwC

Sipp and pensions admin provider Xafinity has recruited Mark Barlow from PwC to help drive the growth of the pensions business.
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