SIR – In the past few days, two of our grandchildren, aged four and six, have been told to self-isolate (due to one infection in their nursery or school).
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.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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