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.

Canada Life has appointed Peter Maddern as managing director of retirement, to succeed Tom Evans, who is leaving the business to pursue a new opportunity.

The FCA is to retire its British Steel Pension Scheme redress calculator which has been used to provide an assessment of client losses incurred due to poor advice.

HMRC is to reform the system by which it currently applies emergency tax codes to pension lump sum withdrawals.

Behavioural finance firm Oxford Risk has launched new retirement income suitability software to help Financial Planners and advisers meet the FCA's stricter requirements in the wake of last year’s thematic review.

Cheshire-based adviser firm Holborn Assets Ltd (FRN 648817) has been declared in default by the FSCS, opening the door to ex-clients to make claims for compensation.