Small pots solution finally coming together?
Pensions analysis: On 24 April 2025, the Department for Work and Pensions (DWP) confirmed the outline of the reforms to consolidate defined contribution (DC) pension pots worth £1,000 or less in the upcoming Pension Scheme Bill expected to be published prior to parliamentary summer recess on 22 July 2025. The reforms are based on the work of the Small Pots Delivery Group (SPDG) whose report on its final recommendations was published alongside the DWP’s announcement. To produce the report, the Small Pots Delivery Group carried out extensive consultation with industry stakeholders including the Pensions Regulator and the Financial Conduct Authority (FCA). Max Ballad, legal director at Brabners, looks at the implications of the proposals for the industry and the government’s next steps