Defined benefit (DB) transfer values remained fairly stable in July, falling by just £2,000 to £230,000 by the end of the month, according to Xafinity's monthly index.
The index tracks the transfer value that would be provided by an example DB scheme to a member aged 64, with a £10,000 annual entitlement from age 65, increasing each year in line with inflation.
However, it still remains below the highest levels of Q1 and Q2 2017, which saw values hit £244,000 mid-April, and £241,000 by 31 May.
Over the period of July, the difference between maximum and minimum readings of the transfer value index was £6,000 (2.5%), in which the value hit its lowest on 17 July at £227,000, and its highest on 24 July, at £233,000.
Xafinity head of DB growth Sankar Mahalingham said:
"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."
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