//Scheme expansion
Scheme expansion2022-05-25T09:48:41+00:00

Scheme expansion

RFL welcomes the expansion of the Dormant Assets Scheme maintaining its three core principles, which were established among existing participating banks and building societies and that will also underpin the expanded scheme.

Consumer protection is at the heart of the scheme: customers should always be able to reclaim the amount that would be due to them had a transfer into the scheme not occurred.

Following the Dormant Assets Act 2022 being granted Royal Assent in February 2022, RFL continues to work with government, the regulators, industry and trade bodies on operational readiness to welcome the new sectors into the Scheme. Please view the Dormant Assets Information Guide opposite for more details.


In 2017, the Independent Commission on Dormant Assets recommended that a wider range of assets be included in the Dormant Assets Scheme. Following the Government’s response in 2018 to the Commissions’s report, four senior industry champions were asked to lead the development of recommendations for an expanded scheme.

Their 2019 report set out an industry blueprint for expansion which concluded that primary legislation would be needed to expand the scheme.

In February 2020, the government launched a public consultation for wider views on the development plans for scheme expansion. The consultation outlined government’s proposals on how assets from three additional sectors, namely insurance and pensions, investments and wealth management and securities could be included.

In January 2021, the government published its response to the public consultation and during the State Opening of Parliament, May 2021, the Queen’s speech indicated the introduction of the Dormant Assets Bill which will form the legislation for scheme expansion. Following a successful legislative process with cross-party support, the Dormant Assets Act 2022 was granted Royal Assent in February 2022.

Find out more about the existing schemes:

The Main Scheme

Facilitating larger banks and building societies to transfer money from their dormant accounts to RFL to fund good causes across the UK.

Find out more

The Alternative Scheme

Enabling building societies and banks with balance sheets valued at less than £7bn to utilise their qualifying dormant accounts to support their favoured local or aligned charity or charities.

Find out more

Dormant Assets Guide

Information about Dormant Assets


Nigel Huddleston
Minister for Sport, Tourism, Civil Society and Youth

The Dormant Assets Scheme is an excellent example of responsible collaboration between industry, government and civil society. The UK has long been at the global forefront of deploying dormant assets at scale and work is currently underway to expand the Scheme to a wider range of financial assets. Consumer protection will remain at the heart of the expanded Scheme, with the priority being uniting customers with their money. Only where this is not possible will funds be released to support social and environmental initiatives. Customers will always be able to reclaim the full amount owed to them, at any time."


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