Lib Dem Conference 2011: Webb on operation 'Big Fat Pension Pot'

Current rules mean there are difficulties in combining small pots, which presents further problems as annuity providers rarely sell products for less than £5,000. In his speech to the Liberal Democrat conference today, Webb said the DWP will help people with several stranded pots. "We have an operation in the department, called ‘Operation Big Fat Pension Pot'," he said. "I want to help people put those small pension pots together and in the autumn there will be a document setting out options for how to do that." Under current rules, if the sum of an individual's pension funds is...