Transfer values rose during July 2019, while the number of DB transfers also increased, according to XPS Transfer Watch, which monitors how market developments have affected transfer values for an example member, as well as how many members are choosing to take a transfer value.
Savers withdrew £2.75billion flexibly using the pension freedoms in Q2 2019, up 21% compared to a year earlier, new figures have revealed.
Transfer volumes through the Origo Transfer Service have increased by 20% year on year between 30 June 2018 and 30 June this year, to over 680k, it has been revealed.
Transfer values fell slightly during June 2019, as the number of DB transfers over the month also fell marginally.
Chartered Financial Planning firm Belmayne is among the first firms in the East Midlands to sign up to a new professional code of practice governing pension transfers.
A survey has found that 99% of the 70,000 Defined Benefit scheme members who quit each year are transferring their money to a SIPP.
A new survey has revealed 85% of respondents believed all DB schemes should allow partial transfers.
Pension transfer values, as measured by the XPS Pensions Group Transfer Value Index, fluctuated moderately during January 2019, but with no overall change over the month.
PIMFA, which represents around 1,000 UK wealth managers and financial advisers, has called for an “urgent review” of the FSCS following yesterday’s announcement of an interim levy.
The Financial Conduct Authority has today published final rules and guidance from its consultation on improving the quality of pension transfer advice.
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