Dormant Assets Scheme unlocks record £370 million for good causes
Reclaim Fund Ltd announces largest distribution in Scheme’s 15-year history and highlights the contribution of major investment firms.
Reclaim Fund Ltd (RFL), the operator of the UK’s Dormant Assets Scheme, has published its Annual Report and Accounts for 2025/26, setting out a landmark year of growth, responsible stewardship and increased impact. RFL’s Board approved a significant release of £370 million for distribution to The National Lottery Community Fund. This is the largest distribution in RFL’s history and takes the total amount committed for good causes since the Scheme began to more than £1.6 billion.
The increase follows a comprehensive review of RFL’s approach to capital and reserving. The refreshed strategy uses a risk-based model to assess the funds RFL must retain to meet future customer reclaims and withstand severe but plausible stress events. Any assets above the level required for provisions and capital can then be released for good causes.
The new approach maintains the Scheme’s central promise: people can reclaim what they are owed at any time through their financial provider. Since inception, £208 million has been reunited with account holders across 243,000 reclaims.
The year also marked the formal opening of the Scheme to the Investment and Wealth Management sector. Janus Henderson, Jupiter, J.P Morgan and Schroders became its first four participants, following close collaboration between RFL, Government, the Financial Conduct Authority and the Investment Association.
Lawrence M. Weiss, Chair of Reclaim Fund Ltd, said: “After 15 years of operation, the Scheme continues to grow in reach and impact. We are proud to have enabled more than £1.6 billion to be committed for good causes and to welcome four trailblazing Investment and Wealth Management firms. Our focus remains on responsible growth, robust governance and helping more eligible firms participate.”
Adrian Smith OBE, Chief Executive of Reclaim Fund Ltd, said: “This has been an exceptional year for RFL and for the Dormant Assets Scheme. Our significant release of £370 million reflects rigorous work to strengthen our reserving approach, while safeguarding dormant asset owners’ right to reclaim their money. Alongside the opening of the Investment and Wealth Management sector, it demonstrates what can be achieved through strong partnership between Business and Government.”
The funding approved for distribution will support initiatives across the UK through The National Lottery Community Fund, including the recently announced Every Child Can programme in England. Backed by dormant assets funding, the programme aims to improve opportunities for children and young people by investing in earlier intervention and long-term support, helping more young people to thrive regardless of their circumstances.
The Annual Report also showcases examples of how dormant assets funding is already making a difference in communities across the UK. Featured case studies include Nuneaton Signs, a social enterprise that increased production capacity by 144% after receiving £150,000 in support; Hydra Arts, which received £82,404 through Young Start for a creative project involving young people in Scotland and Canada; and Miss Macaroon, one of eight frontline organisations supported through Youth Futures Foundation’s £2 million Evidence into Action programme.
Key Takeaways
- Reclaim Fund Ltd announces a record distribution of £370 million through the Dormant Assets Scheme, the largest in its 15-year history.
- The total committed for good causes since the Scheme’s inception exceeds £1.6 billion, supporting various initiatives across the UK.
- The Scheme now includes the Investment and Wealth Management sector with firms like Janus Henderson and J.P. Morgan participating for the first time.
- The funding will back programs such as Every Child Can, aimed at improving opportunities for children and young people in England.
- The report highlights success stories, including significant support provided to community projects like Nuneaton Signs and Hydra Arts.
Karen Jones is the founder of Citywealth and a wealth management commentator with more than 20 years’ experience across global private wealth, family offices and succession. Before founding Citywealth in 2005, she held publishing roles at The Times and The Sunday Times, London; Legal Business magazine and worked on the Asia Pacific Legal 500.
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