Displaying items by tag: DB pensions

Defined benefit pension transfer values fell to their lowest value for six years at the end of December after a significant decline in the final quarter, according to pension provider and consultant XPS’ index.

DB transfer values have fallen by a third since June 2018, according to the latest data from XPS’s Transfer Value Index.

The FCA has warned of increased risk to consumers when overseas firms refer defined benefit (DB) scheme members to UK firms - including SIPP firms - for pension transfer advice.

Defined Benefit pension schemes enjoyed an “unprecedented” £400bn fund improvement in 2022, according to pension consulting and admin firm XPS Pensions Group.

MPs on the Works and Pensions Committee have voted to investigate contingent charging on pension transfers but some in the industry are sceptical about the benefits of such a move.