The transfer value a typical DB pension could attract fell below £150,000 in October for the first time since last year’s mini budget, according to pensions and SIPP firm XPS Group.

Pensions and SIPP firm XPS Group has reported a 23% growth in revenues to £94.5m for the latest half year.

After years of sharp growth in participation during the roll-out of auto enrolment, workplace pension growth has stalled, according to new data from the Department for Work and Pensions.

>>>In his new monthly column for SIPPs Professional, Barnett Waddingham SIPP expert James Jones-Tinsley looks at the difficult pensions road ahead for the Chancellor. 

Pensions could become more like a bank account into which different employers have to pay, under a shake-up expected in the Autumn Statement.

Average annuity rates climbed to 7.25% for a 65-year-old in September, up from 7.11% in June, according to the Standard Life Annuity Rate Tracker.