Falling gilt yields pushed DB transfer values to a new record high of £265,200 on 28 October.

The Financial Conduct Authority (FCA) has written to 3,591 DB transfer advice customers of 10 advice firms to encourage them to make a claim via the Financial Services Compensation Scheme (FSCS).

Defined benefit pension transfer values held up close to their record high for most of September but slipped in the last 10 days of the month due to a sharp increase in government bond yields.

The Financial Conduct Authority (FCA) has confirmed that it will start a periodic review of pension transfers redress guidance by the end of 2021.