DC pensions on the fastest trajectory to dormancy; Covid-19 to cause 48% increase
The impact of the coronavirus pandemic on the UK labour market will cause a significant increase in the number of dormant pension pots in 2020, with defined contribution (DC) schemes most affected.
Research from PensionBee released today (3 June) shows the number of dormant DC pensions will rise to 15.1m this year from 10.2m in 2019 - an increase of 48%. A 32% increase in dormancy is expected...
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