Responding the the Government's Dormant Assets Scheme Expansion Report, Andy Walker, Manager of Long-Term Savings Policy at the Association of British Insurers, said:
“The ABI and our members have done a lot of work through our Gone-Aways Framework, and through supporting the creation of pensions dashboards, to help reconnect customers with their lost savings. Today’s report is a positive step towards ensuring there is widespread best practice in efforts to find lost customers, and where it’s not possible to do so - support a number of good causes.
“With an estimated £20 billion currently sitting in lost pensions, the message to customers is: It’s your money, come and claim it. This is an incredibly important initiative and since Government support is needed, we look forward to working together on its implementation.”
We have also published a guest blog from the Scheme's Insurance and Pensions Industry Champion, Kirsty Cooper, which you can read here.