Xafinity

This week's top stories included coverage of Theresa May's reshuffle, in which the Department for Work and Pensions was given its fifth secretary of state within two years.

Xafinity has completed its acquisition of Punter Southall's actuarial consulting, pensions administration and investment consulting businesses.

The estimated transfer value quote for the average defined benefit (DB) member stayed fairly stable over November, according to Xafinity.

This week's top stories included calls for a national pensions debate to discuss investment strategies, and Xafinity's plans to acquire some Punter Southall businesses.

Combining Xafinity and Punter Southall's "highly complementary" businesses to create the "largest pure-play UK pensions consultancy" will be beneficial for clients, according to Xafinity.

PS Independent Trustees will merge with HR Trustees to form the UK's second largest form of professional trustees.

Xafinity is set to buy the actuarial, investment consulting and administration businesses of Punter Southall Group in a shares and cash deal worth £153m.

Andy Flynn and Jonathan Hight-Warbuton have been appointed to Xafinity's National Pension Trust to strengthen its defined contribution (DC) team.

Defined benefit (DB) transfer values stayed fairly steady over October, rising from £230,000 to £231,000 by the end of the month, according to Xafinity.

The frequency of potential scams in transfer requests declined three percentage points compared to last year, according to Xafinity.