The Occupational Pensions Regulatory Authority (Opra) has seen a 40% fall in the number of cases reported, down to 2,080 in the three months to June 30, from 3,451 in the same period last year.

John Hayes, chairman of Opra, said at the Northern Pensions Conference in Newcastle-upon-Tyne: 'It is too soon to draw any conclusions as to the reasons why or whether the trend will continue.'