The latest data on pension transfers from pension firm XPS suggests a “significant increase” in the proportion showing signs of potential scam activity.

Falling gilt yields pushed DB transfer values to a new record high of £265,200 on 28 October.

Defined benefit pension transfer values held up close to their record high for most of September but slipped in the last 10 days of the month due to a sharp increase in government bond yields.

The number of defined benefit pension transfers with at least one warning sign of a potential scam or poor member outcomes has hit its highest level in five months.

Defined benefit pension (DB transfer) activity feel to the lowest level since September 2020 in April but red flag cases rose to a three-month high.

Defined benefit transfer values slumped by 3% in March and the number of members asking for a transfer value fell to a record low, according to figures released by the XPS Transfer Watch today.

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.

December was the fourth month in a row where pension transfer values monitored by XPS fell, although the number of people making a transfer rose.  

 The number of Defined Benefit (DB) transfers fell in November as transfer values also slipped, according to the latest XPS Transfer Watch.