Go to... Home/Our role/Scheme expansion Scheme expansion 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. RFL welcomes the proposal to expand the Dormant Assets Scheme maintaining its three core principles, which were established among participating banks and building societies and will also underpin the proposed 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. 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. For further information please click here to view the Dormant Assets Information Guide. 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 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 Dormant Assets Guide Information about Dormant Assets VIEW PDF Baroness Barran MBE Minister for Civil Society The Dormant Assets Scheme is an excellent example of responsible collaboration between industry, government and civil society. To date, participating banks and building societies have transferred £1.35bn into the scheme, with £745m released to fund high-impact social programmes across the UK. 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 enabling us to push this frontier even further.” FAQ's Answers to the most common questions regarding who we are and what we do READ MORE Useful Links GOV.UK - The Dormant Accounts Scheme My Lost Account The National Lottery Community Fund Funding Recipients Financial Ombudsman Participant Portal Keep In Touch Authorised and regulated Cookies Freedom of Information Privacy Policy Security Slavery & Human Trafficking Statement Terms and conditions ©2016-2021 Reclaim Fund Ltd.