The FCA’s long-awaited pension transfer rule changes are likely to be pushed back by at least six months in a move described as “very disappointing” by a leading pensions actuary and consultancy firm.

The Personal Finance Society has urged the FCA and the Treasury to do more to ensure consumers can access financial advice during the Coronavirus outbreak.

Defined benefit pension transfer values rose in February with Coronavirus fears spurring the rise, according to the XPS Transfer Watch Index, a monthly study of transfer values.

Defined benefit pension transfer values regained in January much of the ground they lost in the last quarter of 2019.