My Lords, is there not the point that, with people having on average 11 different jobs during their career and potentially 11 different pension pots, particularly those they were part of when they were younger, many of them have no information at all about it. They do not even know who the manager or the provider is. Already, the amount of unclaimed financial assets in this country is colossal. Without what is happening under this legislation, the problem will get worse, and we urgently need to sort out the ownership of lesser pension schemes, going back a long time.
Pension Schemes Bill [HL]
Proceeding contribution from
Lord Flight
(Conservative)
in the House of Lords on Monday, 2 March 2020.
It occurred during Debate on bills
and
Committee proceeding on Pension Schemes Bill [HL].
About this proceeding contribution
Reference
802 c210GC Session
2019-21Chamber / Committee
House of Lords Grand CommitteeSubjects
Librarians' tools
Timestamp
2024-04-27 13:39:15 +0100
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