A dispute over whether cashflow modelling is to become “effectively mandatory” for DB transfers has broken out between a software firm and the FCA.

Mattioli Woods is to cease providing pension transfer advice to individuals with safeguarded benefits and is now undertaking a full review.

The volume of Defined Benefit (DB) pension transfers doubled to £21bn last year, newly-revealed figures have shown.

A call by Aviva’s chief executive Andy Briggs to ban contingent charging has been criticised as “too heavy handed” by an expert.