Defined benefit pension transfer values fell by 4% in October - one of the biggest declines seen in several years.

Transfer valued endured a volatile September, according to the latest data from XPS Pensions Group.

DB transfer values rose to record highs in August 2019, while the number of members requesting a transfer value continues to increase, according to XPS Transfer Watch.

Transfer values rose during July 2019, while the number of DB transfers also increased, according to XPS Transfer Watch, which monitors how market developments have affected transfer values for an example member, as well as how many members are choosing to take a transfer value.