Government launches small pension pots taskforce

This comes nearly two months after the Work and Pensions Committee (WPC) asked the industry for "workable solutions" following Now Pensions' call for "radical action" in July. The number of small defined contribution pots has skyrocketed since the introduction of auto-enrolment (AE) with many of the ten million savers enrolled having moved jobs without consolidating their pension savings. The July research from Now Pensions and the Pensions Policy Institute (PPI) found up to 27 million smaller pots could be pushed into master trusts by 2035 because of this. The research also sugges...