Pension transfer activity fell to its lowest level in over six years in February, according to the latest data from pensions consultancy XPS.

DB transfer values have fallen by a third since June 2018, according to the latest data from XPS’s Transfer Value Index.

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

Pension transfer activity in March dipped to its lowest level since September in 2022.