I tracked down my £14k lost pension – before the Government seized it
Savers hunt for £40bn in lost savings ahead of state raid
50 million pots to be dormant by 2050 without intervention
More people are hunting down lost pension pots to forestall government plans to seize retirement savings that lie dormant for years.
The Government approved radical proposals at the start of the year to use forgotten pensions and other dormant assets to unleash an initial £800m of funding for charities and social enterprises in a bid to help local economies bounce back after the pandemic.
It already uses dormant bank accounts in this way and lost pensions represent a potential £40bn gold mine in additional state funding.
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