Pensions industry joins forces to tackle small pot problem

DWP recommendations

Jonathan Stapleton
clock • 3 min read

An industry co-ordination group has been established to take forward the recommendations of the Department for Work and Pensions’ (DWP’s) small pension pots working group.

The Small Pots Co-ordination Group (SPCG) - jointly convened by the Pensions and Lifetime Savings Association (PLSA) and the Association of British Insurers (ABI) - is made up of representatives from a range of pension providers, industry bodies and stakeholders and is chaired by Capital Cranfield Trustees professional trustee Andy Cheseldine. The group's formation was a recommendation of the small pension pots working group report, published in December. This report noted that the number of small deferred pots in the pension system, which tend to result from savers moving jobs and lo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Budget end to overseas pensions 'loophole' could cause 'chaos'

Budget end to overseas pensions 'loophole' could cause 'chaos'

OTC applies to more transfers under changes

Jen Frost
clock 31 October 2024 • 2 min read
Pensions tax-free cash untouched – but what about those who acted pre-Budget?

Pensions tax-free cash untouched – but what about those who acted pre-Budget?

No lump sum change should be ‘welcomed’ but damage cannot be undone

Isabel Baxter
clock 31 October 2024 • 5 min read
Autumn Budget 24: Heavily rumoured pension changes fail to emerge

Autumn Budget 24: Heavily rumoured pension changes fail to emerge

Labour chose not to target workplace pensions, despite raising taxes by £40bn

Holly Roach
clock 30 October 2024 • 3 min read