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The Pensions Administration Standards Association (PASA), the independent body set up to improve pensions admin standards, is to launch a voluntary mediation service to resolve issues experienced by schemes during the transfer of pension schemes from one provider to another.

One in five adults (20%) who have retired in the last five years have admitted to struggling to cope with retirement. 

The platform Hubwise has halved the cost of its SIPP plan, it says, and has reduced entry costs as the company’s chief executive lambasts 'unfair' high charges he claims are prevalent in the sector.

September saw a reverse of rising pension transfer values with average transfers measured by one provider dropping sharply over the month, falling by 4% from £240,000 in the first week of September to £230,000 by the end of the month.

The acquisitive Embark Services Group, parent company of Sipp provider Rowanmoor and platform Avalon, reported pre-tax losses widening last year from £1.46m to £2.36m.

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