The lack of Professional Indemnity insurance availability for IFA firms is ‘the biggest threat to adviser businesses’ in 2020, the chairman of Beaufort Group Simon Goldthorpe has warned.

The number of Defined Benefit transfers fell in November as transfer values slipped, according to the latest XPS Transfer Watch.

Pension transfer specialist Tideway has claimed that UK workers could collectively be up to £25bn out of pocket if they are persuaded not to take advantage of final salary transfer offers by negative publicity on DB transfers.

XPS Pensions, the pensions administrator, says that 35% of pension schemes have appointed or are considering appointing an IFA to support members.