Displaying items by tag: pension transfers

Pension transfer activity has continued its downward decline, hitting a five year low in July and dropping to half the level seen a year earlier.

DB transfer values fell 8% in the second quarter, according to the latest data from XPS Pensions Group.

The Financial Services Compensation Scheme has opened its doors to claims against two firms passporting into the UK to advise on pension transfers.

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.

XPS Pension Group’s Transfer Value Index fell by 4% in February to £168,000, the lowest month-end value since the Index was first published in June 2016.

The FSCS has declared pension transfer adviser Portal Financial Services LLP (FRN501272) as failed after the firm went into compulsory liquidation following a string of complaints.

Defined benefit transfer values fell by more than a third last year as investor concerns over UK debt drove gilt yields higher, according to new analysis.

The Financial Services Compensation Scheme has declared five pension advice firms as failed this week - four of them for pension transfer advice complaints.

Advice firm Bartholomew Financial Limited has been declared in default by the Financial Services Compensation Scheme (FSCS) whilst facing 12 claims.

Two advice firms have been declared failed by the Financial Services Compensation Scheme this week, including a Financial Planning firm which has 25 pension transfer claims against it, including BSPS cases.