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A record high 78% of pension transfers raised at least one warning sign of potential scam activity in April.

Pension consultancy and administrator XPS Pension Group has reported 8% growth in revenues over the past year thanks to strong growth in advisory revenue, according to a trading update ahead of its full year results in June.

The latest data on pension transfers from pension firm XPS suggests a “significant increase” in the proportion showing signs of potential scam activity.

Men are almost twice as likely to be at serious risk of pension transfer fraud than women, according to a new report.

Pension transfer activity dropped to its lowest level in four years in December.

XPS Pensions Group, the actuarial, consulting and admin business, is to acquire the business and key assets of Manchester-based SIPP and SSAS provider Michael J Field Consulting Actuaries for £3.75m.

Retirement provider XPS Pension Group says its Pension Transfer Value Index climbed to a new high of £270,000 at the end of November due to forecasts of increased inflation and a dip in gilt yields.

Falling gilt yields pushed DB transfer values to a new record high of £265,200 on 28 October.

Defined benefit pension transfer values held up close to their record high for most of September but slipped in the last 10 days of the month due to a sharp increase in government bond yields.

A new survey has revealed that 99% of DB pension transfers clients move their money into SIPPs. 

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