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.

The Personal Finance Society has challenged the FCA’s recent DB transfer data and has welcomed what it calls the regulator’s acknowledgement of the limitations of the data.

More than 600 firms have signed up in the first six weeks to support the PFS’s new Pension Transfer Gold Standard designed to improve best practice in Defined Benefit transfers.

The DWP has detailed its plans today for a new occupational pension scheme - with promises that members using the Collective Defined Contribution (CDC) schemes will be ‘protected’ from excessive fees by a 0.75% charge cap.