Millions could be better off in retirement as the Government commits to automatically collate small savings pots.
Do you have a pension treasure chest hidden away somewhere?
Millions of savers could be better off in retirement under plans to make it easier to keep track of your pension pots.
The King’s Speech in July included a Pensions Schemes Bill that the government estimates will leave the typical private pension
holder £11,000 better off in retirement.
Small pots that you are no longer saving into could be combined automatically so that your retirement funds are all in one place. There was about £26.6 billion held in lost pension pots in 2022, according to the Pensions Policy Institute, an independent research group. The average pot value was £9,470.
If you prefer not to wait for the Government, we can advise on consolidating pensions now.
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