PLSA head of DC, master trusts and lifetime saving Alyshia Harrington-Clark said: “The government has rightly recognised that efforts need to be made to address the small pots issue, which is detrimental to savers, and causes market inefficiencies.
“If unaddressed this could lead to over 20 million small pots by the end of the decade.
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"Industry has and will continue to work hard to support government efforts to resolve to these complex problems for the future of consolidating small pots and implement mass market automatic enrolment solutions.”
maria.espadinha@ft.com
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