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layout: post
date: 2023-08-12
link: https://moneyweek.com/personal-finance/pensions/small-pension-pots-to-be-consolidated-dwp
title: Small pension pots to be consolidated says DWP
cited: Moneyweek

---

No doubt these consolidators will be charging a high fee and these modest pots will be worthless come retirement. 


> Default “consolidator” schemes will be created to sweep up small deferred pension pots worth less than £1,000.

> It means savers with workplace pensions that they are no longer contributing to will be transferred automatically to a consolidator (or consolidators), although they will be able to opt out of “auto-consolidation” if they prefer to stay with their existing pension provider.