News: Transfer values could rise by as much as 50%.

Pension transfer values could go up by as much as 50% for younger members of defined benefit (DB) schemes, under new actuarial proposals.

In the new version of GN11, the guidance note on calculating pension transfers, a more prescriptive approach has been advocated, with the general principle that transfer values should be based on the marked-to-market value of benefits, using a bond-based discount rate.

At present, transfer values are based on the expected cost to the scheme of providing a member's benefits.

FPS Group actuary Peter Barnard said: "