Defined benefit (DB) transfer values remained stable at £232,000 at the end of February, according to actuarial firm Xafinity.
This value is in line with the previous month's figures, when it stood at £231,000, according to the specialist in pensions actuarial, consulting and administration.
During 2017, transfer values remained high, but in line with the figures of the previous year - at an average of £234,000 at the end of 2016.
The difference between maximum and minimum readings of the index in February was £4,000 (or around 1.6 per cent).
The index tracks the transfer value that would be provided by an example defined benefit scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 and increasing each year in line with inflation.
According to Sankar Mahalingham, head of defined benefit growth at Xafinity Punter Southall, transfer values remained very stable during February 2018, continuing the trend we have seen since mid-September 2017.
He said: "Both gilt yields and inflation have remained stable during the month.
"During February, the Bank of England Monetary Policy Committee (MPC) kept the official bank rate at 0.5 per cent, but also indicated that rates may need to go up more quickly and further than previously thought during 2018."
Speaking before the Treasury select committee last month, the Bank of England's governor Mark Carney said a better than expected demand in the economy, and lower long-term potential for the economy, means interest rates will go up more quickly than expected six months ago.
Mr Mahalingham said: "The impact of this on longer-dated gilt yields was muted, and it is these that affect transfer values rather than the official bank rate.
"This suggests the comments from the Bank of England MPC were broadly in line with market expectations. While the market is anticipating gradual rises, any delay in actual rises would likely mean an increase in transfer values if the delay is expected to be prolonged."
maria.espadinha@ft.com
