Gov't Calls For Fix On Lost Growth In Small Pension Pots

Law360, London (December 17, 2020, 3:56 PM GMT) -- The government has said it will act after an industry-led taskforce warned on Thursday that long-term savers are losing money because their retirement funds are spread across multiple, small pension pots.

Pensions Minister Guy Opperman said it was important for the government and the pensions industry to develop a "workable solution" for the growing problem.

The number of small pension pots has grown rapidly since the government introduced rules in 2012 that meant employers are required to automatically enroll staff in workplace retirement plans.

Savings from earlier retirement pots do not automatically move to new workplace pension schemes when workers change...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!