Efforts to tackle small pension pots step up a gear

On February 8, 2024, the DWP announced the launch of the Small Pots Working Group.

The Group will be chaired by the DWP and has representation from various industry bodies, including the Financial Conduct Authority, the Pensions Regulator, the Pension and Lifetime Savings Association and the Association of British Insurers.

It will provide recommendations on how best to implement the proposed multiple default consolidator approach, set out in the Government's 2023 Autumn Statement.