'Pot Follows Member' plan may be resurrected
11 October 2017
‘Pot follows member’ proposals may be back on the agenda after the pensions minister suggested that the Department for Work and Pensions is looking at it as part of its review of automatic enrolment.
In October 2015, the then pensions minister, Ros Altmann, announced that the government had scrapped plans to roll out an automatic transfer system for small pension pots. If it had come to fruition it would have seen pension pots of less than £10,000 automatically moved to an employees new pension scheme when they changed jobs.
Smart Pensions has reported that in a fringe event at the Conservative Party conference, pensions minister Guy Opperman suggested that the 'pot follows member' proposals are back on the table for the government as part of its review of auto-enrolment.
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