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Insurance & Pensions

The Dormant Assets Act 2022 (the Act) expanded the scope of the government-backed Dormant Assets Scheme to include long-term insurance and pension assets. Organisations that are headquartered in, or have an entity in the UK, and have the required regulatory permission are eligible to join the Scheme.

The Scheme enables participating organisations (‘participants’) to transfer monies from eligible dormant assets that cannot be reunited with their owners to RFL. RFL protects the right of asset holders to reclaim the value of their assets at any time in the future. RFL invests funds it receives from participants to cover future reclaims and transfers the surplus to The National Lottery Community Fund which distributes these amounts to good causes across the UK.

financial breakdown

Why join?

Insurance and pension providers are increasingly placing environmental, social and governance (ESG) priorities at the heart of their strategies. Participating in the Dormant Assets Scheme benefits participants, their customers and the wider communities in which they operate:

  • Participants harness the value of assets that cannot be reunited with their owners for social and community causes
  • Customers retain the right to reclaim the value of their assets at any point in the future
  • Communities benefits from additional funding to support vulnerable individuals and disadvantaged groups

Contact us at to discuss how your organisation could participate in the Dormant Assets Scheme.

Assets in scope

Eligible insurance and pension proceeds are the cash proceeds of a contract of long-term insurance or a contract-based defined contribution pensions where, following attempts to trace and reunite the asset with its owner, there has been no contact with the owner for at least 7 years, such as:

  • Savings endowments
  • Annuities with a guaranteed payment period
  • Term insurance
  • Deferred annuities
  • Whole-of-life assurance
  • Income drawdowns
  • Investment bonds
  • Defined contribution occupational, personal and group personal pensions

How the Scheme works:

scheme explanation


If you think that you have a lost/unclaimed insurance or pension product, you should contact the original provider. Alternatively, there are tracing services available who can help (see Useful links on this page)