New investments in SIPPs fell by 13% in the second quarter of this year despite the boom in pension transfers fuelling growth in transfers to SIPPs.
Financial advisers say they are experiencing an increase in insistent clients disagreeing with their recommendations on defined benefit pension transfers.
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.
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 Pensions and Lifetime Savings Association has raised concerns about the way the FCA wants information provided to clients considering a pension transfer.
The platform sector saw continued rapid growth in the second quarter thanks to inflows from pensions including Sipps, pension transfers and pension freedoms.
Average pension transfer values during July 2017 remained relatively stable after recent volatility, according to the Xafinity Transfer Value Index.
Pension transfer values continued to show considerable volatility in the second quarter of this year and decreased by 3.7% in June during the month.
AJ Bell has called for a reintroduction of the permitted investment list for Sipps as pension transfer values soar and fears grow about a rise in pension scamming.
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