Pension transfer activity has dropped to the lowest level since the introduction of the pension freedoms, research by Lane Clark & Peacock (LCP) reveals.
The Pensions Regulator (TPR) has sent letters to defined benefit (DB) schemes encouraging trustees to consider cutting transfer values on offer when workers want to leave.
The debate around defined benefit (DB) pension transfers will "come to a head when the stock markets fall", according to a panel of retirement specialists.
The Pensions Ombudsman is investigating a group of more than 150 complaints about transfer values from British Steel Pension Scheme (BSPS) members.
Defined benefit (DB) transfer values remained fairly stable in July, falling by just £2,000 to £230,000 by the end of the month, according to Xafinity's monthly index.
Volatile gilt yields saw the estimated average defined benefit (DB) to defined contribution (DC) transfer value fall by £9,000 over June, Xafinity has said.
Transfer value analysis should be replaced with a comparison showing the value of the benefits being given up, the Financial Conduct Authority (FCA) says.
Defined benefit (DB) transfer values reached their highest level since early November 2016 due to a fall in gilt yields and more bearish inflation expectations.