Policy paper

Small pension pots working group

This report makes recommendations to deal with the increase in the number of small, deferred pension pots in the Automatic Enrolment workplace pensions market.

• From: Department for Work and Pensions
• Published: 17 December 2020

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Small pots working group report

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Small pots working group report

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Details

On 22 September 2020, the Minister for Pensions and Financial Inclusion launched a cross-sector working group. This working group was set up to examine the scale and nature of deferred, small pots, looking at the whole of the automatic enrolment (AE) pensions market, with a particular focus on Master Trust schemes at this stage.

The report by the small pots working group, sets out their recommendations on how to tackle the growth of deferred members with small pension pots within the AE pensions market.

The topic areas covered in this report are:

• the deferred, small pots challenge
• member-led solutions – analysis and recommendations
• scheme-led solutions – analysis and recommendations
• micro-pots
• administrative processes to support large-scale transfer and consolidation solutions
• working group suggested next steps and outline roadmap

Published 17 December 2020