Small pots working group launched

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The government has launched a small pots working group with industry to assess and make recommendations, as an interim step, on ways to tackle deferred, small pension pots.

The group of experts from the pensions industry, fintech and those representing member interests and employers will report later this autumn with an indicative roadmap of actions for industry, delivery partners and government.

Pensions minister Guy Opperman, said: "Automatic enrolment has transformed the way people save for retirement, meaning millions more can look forward to a more secure future. With the launch of the cross-sector Working Group and our ongoing efforts to make Pensions Dashboards a reality, we are focused on ensuring that consumers can stay on top of their pension savings, make more informed choices about their financial futures and have real returns from their savings."