Defined Benefit pension schemes enjoyed an “unprecedented” £400bn fund improvement in 2022, according to pension consulting and admin firm XPS Pensions Group.

The FCA has relaunched its pension transfer ‘advice checker’ tool for consumers to help them assess whether they have received unsuitable advice.

According to adviser research from Aegon the demand for DB advice remains strong with nine out of 10 advisers, who are or have been active in advising on defined benefits, saying there are still many individuals who would benefit from taking advice.

Fintech and regtech firm Money Alive has revealed Tilney is the latest firm to adopt its Adviser Portal product to use as part of their Defined Benefit (DB) pension review process.