Department of Work and Pensions : Meeting Future Workplace Pension Challenges

19 December 2011
The Department of Work and Pensions has launched a consultation on how to treat the proliferation of small pension pots. An individual moving from job to job may easily build up a portfolio of several small entitlements with consequent problems of administration, communication and cost.

Their proposed initiatives include:

  • encouraging members to consolidate their pension savings, so reducing the cost of administering small pension pots
  • transferring small pension pots to one or more aggregator schemes
  • transferring pension savings so they follow an individual from job to job

The paper also announces the end of short-service refunds for members of DC occupational schemes.

The consultation closes on 23 March 2012.

External link

Over to You:

  • If you found this content useful, please feel free to share it using the buttons at the bottom of the webpage
  • If you’d like to be kept in touch with my writings as they are published, please subscribe to my Mailing List
  • If you think I might be able to help your business with your pensions related challenges – please email or call me

Author: Martin Veasey
© 2011 – 2020

Comments are closed.