14 October 2020
•
Image:
Helen Cavanagh: "This is a continuation of the rise seen since the start of lockdown and, within these figures, we see a significant number of members not fully understanding the fees they are paying.”
Activity in the defined benefit (DB) transfer market fell to a record low in September, while the number of transfers exhibiting scam ‘red flags’ increased to a new high of 62%, according pensions consultancy XPS Pensions Group.
Transfer activity in firms with schemes administered by XPS fell to a new low in September, to an annual equivalent of 0.54% of eligible members, down from 0.67% in August. September's stats represent...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Tap into our community intellignece through our regular Pro Adviser poll.
- Be the first to hear about our events and awards programmes.
