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Pensions and investments left untouched for years will be handed to good causes under plans to expand the dormant assets scheme, the Government has announced.
An estimated £800million could be raised by broadening the scope of the existing project, which has raised £745million from inactive bank and building society accounts since 2011.
A rule that money must always be returned in full should the original holder ever come forward will apply, and firms will still have to try to contact old customers and reunite them with their cash.
Dormant funds: Orphan pensions and investments worth £800m could be handed to charity
Resonance launches Women in Safe Homes fund to tackle domestic abuse
Protecting female abuse victims and ex-offenders
The fund s first property for domestic abuse victims will be purchased next month
Impact investment company Resonance and property manager Patron Capital Partners have launched a gender-lens £100m investment property fund to support women who are risk of homelessness, abuse victims and ex-offenders.
The fund has been created as a solution to the lack of affordable, safe and secure homes for women who are fleeing domestic abuse, female ex-offenders and women who have complex additional needs. The.
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