The policy aimed to tackle the problem of millions of small workplace pension pots being lost as workers change jobs, with employers instead paying into one portable pension pot which would be taken from one job to the next.
The DWP published a call for evidence last November, but the proposal was widely criticized by the pensions industry.
“There is little evidence that the introduction of a lifetime provider model will have benefits for savers,” the Pensions and Lifetime Savings Association told the last government earlier this year.
In his March budget this year, Hunt said he “remained committed” to the lifetime provider model, but it was notably absent in the Conservative Party’s manifesto leading into the July election.
Britain’s new government will instead focus on delivering a long-delayed pensions dashboard so savers can track their lost pensions.
Hunt’s successor Rachel Reeves has meanwhile announced plans for pensions “megafunds” which aim to consolidate the fragmented pensions landscape.
