The Financial Services Compensation Scheme (FSCS) has revealed it has so far paid out £1.1m to former Active Wealth clients hit by the British Steel pensions debacle.

Pension transfer values as measured by the XPS Pensions Group Transfer Value Index remained high during 2018, remaining relatively stable throughout the year until a more volatile December. 

XPS Pensions Group has welcomed a proposed consultation from the Department for Work and Pensions (DWP) on DB pension scheme consolidation.

The Financial Ombudsman Service has published guidance on what it expects from financial advisers who are advising on defined benefit (DB) transfers as the number of complaints mounts.