The XPS Transfer Activity Index has hit its lowest level since Index began for second time this year
TheIndex fell to its record low over August 2024 and matching 2018 levels, with an annualised rate of 14 members in every 1,000 transferring their benefits to alternative arrangements.
Except for a brief increase in July 2024, transfer volumes have consistently remained at lower levels throughout most of 2024.
88% of cases reviewed by the XPS Scam Protection Service in August raised at least one scam warning flag, according to XPS’s Scam Flag Index. This represents a slight decrease from the previous month and is in line with the average level of the index over 2024.
XPS’s Transfer Value Index decreased marginally to £157,000 at the end of August. Throughout 2024 this Index has remained stable, hovering around the same value for eight consecutive months.
Helen Cavanagh, Senior Consultant, XPS Group, said: “We have now witnessed significantly lower volatility in transfer values for over a year, with values over 2024 being particularly stable. However, Transfer Activity has returned to its lowest point since 2018, suggesting that this stable environment may not influence transfer volumes as much as the size of the transfer value itself.”
