XPS Pensions Group has revealed pension changes could lead to a £260bn accounting gap.

Transfer values remained close to record highs during May 2019 as the number of DB transfers over the month increased, according to XPS Transfer Watch.

XPS Pensions Group has uncovered a surge in the number of ‘red flags’ being reported on pension transfers, indicating warning signs of scam activity, from 13% in June 2018 to 34% in June 2019.

Pensions group XPS has launched XPS Transfer Watch, a monitoring service to track pension transfers as the Pension Freedoms continue to transform the market.