Policy options for tackling the growing number of deferred members with small pots – a new research project by PPI, kindly sponsored by NOW: Pensions. 

NOW: Pensions are Gold Supporting members of the PPI, via the Cardano Group Membership. 

Automatic enrolment has seen over 10 million more people saving for their retirement, but this, coupled with the modern flexible employment market and people having multiple jobs throughout their lives, has led to a growing issue of deferred pension scheme members who may accumulate multiple small pension pots throughout their working lives.

These small pots are unlikely to generate significant retirement income for members if left unattended, and may be eroded over time by charges. They may also be uneconomic for providers to manage. With the further expansion of automatic enrolment, the number of small deferred pots will only increase unless policies and practices are changed. This report investigates the impact on providers and members of different policy approaches to reducing the number of small pension pots in the future.

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