Dormant account expansion will unlock over £800 million for communities, says DCMS

Dormant assets across the insurance and pensions, investment, wealth management, and securities sectors are set to be unlocked, with the potential for more than £800 million to be made available for communities, the DCMS announced on 9 January 2021.

The expansion of the Dormant Assets Scheme follows a four-year review and public consultation process.

Oliver Dowden, Secretary of State for Digital, Culture, Media and Sport (DCMS), says:

“Expanding the scheme will mean hundreds of millions more for good causes, helping us to build back stronger in the years to come.”

Full announcement details here