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 Paraplanning boss has detailed how she dealt with a client who faced the “very rare” circumstances of four defined benefit pensions alongside personal pensions and lifetime allowance tax issues.

Former pensions minister Baroness Ros Altmann says a PLSA call for smaller DB pension schemes to be merged into ‘superfunds’ to cut costs and improve returns is a “win-win” for employers and the schemes.