LCP proposes "Magnetic Pensions" to consolidate small, scattered pension pots from auto-enrolment.
LCP proposes "Magnetic Pensions" to tackle small, scattered pension pots resulting from automatic enrolment. The policy brought 10 million people into pension saving, but also led to millions of small deferred pots. Government initiatives, including automatic consolidation of 'micro' pots and member choice, are being considered. LCP's analysis suggests "Magnetic Pensions" could help resolve the issue of forgotten pension pots.
April 19, 2024
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