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...
40,000 new plans bought
Speed of deal 'remarkable'
Schemes that help savers with later life planning as part of a government trial will receive a £400,000 funding boost, the Department for Work and Pensions (DWP) has revealed.
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