The rapid increase in DB transfer values has been the main spur to the rise in transfers and not greedy advisers seeking contingent charging fees, says AJ Bell.

The FCA has set out plans to ban advisers from contingent charging based on a positive recommendation to transfer out of a defined benefit scheme.

The Personal Finance Society (PFS) has welcomed the launch of the new DB Transfers Guidance document by PASA.

Transfer values fell slightly during June 2019, as the number of DB transfers over the month also fell marginally.