Boulding calls for industry action on small pot problem

“The critical question is to make sure that whatever solution is applied to the problem of small pots, it is consistent with the pension freedoms,” he commented.

Last week Robert DeDominicis, chief executive of platform engine GBST Wealth Management, said advisers wanting to know what the future holds for pension freedoms should look to his birthplace of Australia.

Speaking at the James Hay autumn conference on Thursday (17 September), Mr DeDominicis said the Australian government realised it had “to get ready for this online thing” and initiated the SuperStream reforms in the last 12 months that allowed pension transfers at the click of a button.

peter.walker@ft.com