Pensions consultancy LCP is calling for a ‘magnetic pensions’ strategy to help tackle a leap in small pension pots, estimated to be increasing at 2m a year.

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The Treasury’s call for evidence on small pension pots is “deeply frustrating”, according to former Pensions Minister Steve Webb, a partner at LCP.

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After the mixed reactions to DWP's paper, 'Government response to the consultation: Improving transfers and dealing with small pension pots', Xafinity, the UK pensions and payments specialists, is encouraging the Department to push forward with a virtual amalgamation tool for pensions. Read more...