Pension transfers and the FCA: A well-meaning intervention that risks falling short

One of my favourite statistics is that during their working lifetime, people, on average, have 11 different employers. If accurate, then it's a neat way of demonstrating the real-life challenges thrown up by automatic enrolment. If we have 11 different employers, most of us will probably build up 11 different pension plans. Some of those may not hold much money, some may have slipped from memories and some will be ignored. This is causing issues, and the Department for Work and Pensions (DWP) is taking action to reduce the number of ignored pensions. Overall consolidation of workpl...