Small pension pots working group
06 January 2021
The Minister for Pensions and Financial Inclusion launched a cross-sector group on 22 September 2020 which looked to examine the scale and nature of deferred, small pots, looking at the whole of the automatic enrolment (AE) pensions market, with a particular focus on Master Trust schemes. The CIPP policy team were amongst those invited.
The report, by the group, which sets out recommendations on how to tackle the growth of deferred members with small pension pots within the AE pensions market has now been published. A copy of the report can be found here.
The topic areas covered within the report are:
- The deferred, small pots challenge
- Member-led solutions – analysis and recommendations
- Scheme-led solutions – analysis and recommendations
- Micro-pots
- Administrative processes to support large-scale transfer and consolidation solutions
- Working group suggested next steps and outline roadmap
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