Government urged to rethink 'pot follows member' idea to fix burgeoning number of lost pensions

The consultant suggested this idea offers the best prospect of solution to the small pension pot problem. This comes after Department for Work and Pensions select committee chairman and MP Stephen Timms wrote an open letter to industry members inviting them to find "workable solutions for consolidating very small pension pots". In her response, LCP head of defined contribution consulting Laura Myers noted the issues with doing nothing about the growing number of small pots, including the lack of engagement from members with pensions if pot sizes are small and that overall running cost...