Pension transfer values have reached a new set of highs since the vote to leave the EU, per the Xafinity Transfer Value Index.

At the end of last month the Xafinity Transfer Index was at £223,000, the highest reading of the index since 2015. This Xafinity Transfer Index tracks the transfer value that would be given by an example DB scheme to a 64-year-old member who is entitled to a £10,000 a year pension starting at age 65.

This recorded increase in transfer values has been largely attributed to significant reductions in gilt yields since the votes were announced.

One representative of Xafinity said that while the reductions in gilt yields are good for members looking to take a transfer value of their defined benefits, it’s not necessarily great news for pensions themselves. Most schemes will see their deficits increase at least slightly.