Webb dismisses pot-follows-member critics

Speaking at the National Association of Pension Funds (NAPF) annual conference, Webb hit out at "naysayers" who are "missing the point". He said the evidence clearly points to a pot-follows-member approach, instead of the pension industry's preferred aggregator model. Webb said: "What about small pots? If do we do nothing, there will be tens of millions small pots so we have to do something. "The power of the evidence is clearly one way. The alternative model was a third-party aggregator, a home for lost pots where you shunt off little bits of paper." NAPF, TUC, Age UK and Which...