LCP said nearly 2,000 advisers have left the pension transfer market in four years
Analysis by Barnett Waddingham finds gilt yields prompted reduction in transfer values
The vast majority of JLT Employee Benefits' clients have moved to the new equalised basis since the consultancy enabled pension schemes to calculate transfer values to allow for guaranteed minimum pension (GMP) equalisation.
Pension transfer values fell from £233,000 at the end of July to £232,000 at the end of August, according to XPS Pensions Group's monthly index.
Defined benefit (DB) transfer values remained stable throughout February, according to Xafinity's transfer value index.
Defined benefit (DB) transfer values fell from £236,000 at the end of December, to £231,000 by the end of last month, according to Xafinity Punter Southall.