The FCA is to consult on launching a redress scheme for pension transfer victims of the British Steel Pension Scheme (BSPS) debacle.

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.

The Financial Services Compensation Scheme reported today that it has so far received 1,018 claims from former members of the British Steel Pension Scheme (BSPS).

The Financial Ombudsman Service (FOS) has upheld two complaints about Integrity IFA’s advice involving unregulated investments in SIPPs and scolded the advice firm for ignoring both clients and the ombudsman.

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

The Financial Conduct Authority has warned two IFAs and a stockbroker that they face fines and regulatory action over their alleged role in a £5.9m SIPP pension transfer scam.

Pension transfer values briefly hit a new high in August as the FCA reviews potential redress for unsuitable transfer advice.

The FCA has provisionally fined pension transfer financial adviser Geoffrey Edward Armin £1.28m for a number of advice failings.

The ban on contingent charging and the pandemic have resulted in a major slump in pension transfers, according to new research.

Pension adviser Portal Financial Services LLP has shut its doors to new business following a string of complaints to the Financial Ombudsman Service, many brought recently by Claims Management Companies.