Pot follows member will 'not be automatic' at outset

Jenna Towler
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Steve Webb's pot follows member policy will initially be rolled out on an opt-in basis and be limited to a selection of pension schemes, the minister has said.

However, it is still the government's intention to see the policy, which will see pensions move with people when they change jobs, become automatic. Speaking during a Department for Work and Pensions (DWP) committee evidence session, the minister confirmed changes to the policy in the short-term. Hargreaves Lansdown said it was likely the decision to roll out the scheme on a partial coverage basis would make it easier to ensure all participating schemes can deal with the administrative requirements of auto-transfers and to get the system up and running. Head of pensions research To...

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