The Centre for Policy Studies congratulates Baroness Ros Altmann, the Pensions Minister, for her decision to scrap the previous government’s pot-follows-member initiative for the automatic transfer of pension pots.
As proposed by Michael Johnson in Aggregation is the Key, published by the Centre for Policy Studies on 13 September 2013, the current system of pot-follows-member should be scrapped in favour of aggregation.
As explained in the report, aggregation, combined with a central clearing house and database, has the potential to achieve far more than pot-follows-member, both for consumers and the industry.
Click here to read the full report.
Date Added: Thursday 15th October 2015