It wouldn't be in the form "clacko will never redeem points", but rather "9x% of accounts with no activity for NN months will not redeem", and this would allow the sponsor to write off 9x% of the liability in such accounts while still honoring redemptions. Retailers do essentially the same with outstanding giftcards.

[Best buy] had to look at 10 years of gift-card data to demonstrate what percentage was likely to go unused, he said. Because Best Buy cards don't have expiration dates, the company waits two years before declaring the unredeemed portion "broken," or unlikely to be redeemed.

Retailers find profit windfall -- unused gift cards