Oh, good question. Pawns in Dragon’s Dogma 2 have their own inventory, and since inventory space is at a premium due to weight, it is sometimes necessary to load up your underlings. But if they die or you dismiss them with a full inventory, what happens to that stuff?
I wasn’t quite sure myself, so I did some testing. I had a pawn who was underleveled and it was time to replace them. Before I went to dismiss them I gave them some things. I gave them a wizard’s cap and 11 Pityword.
I then took the Pawn back to the Rift Stone and dismissed them. I checked my inventory, and the items were not there. So, I went to the hotel next door and looked in the storage. Both the 11 Pitywort and the wizard’s cap were there, added to the stack for the former item and just in equipment for the latter.
So, that answers that. If a Pawn is dismissed, their gathered items go into storage.
When they die, it’s the same thing. Any item that they were carrying goes into your storage.
However, whatever items they came through the Rift with will go away with them. You can’t summon a Pawn, steal all their gear, and send them back. That’s not possible.
One question that still remains, however, is if a stack in your storage is already at maximum (99), what happens to it? For me, I had over 99 goblin horns, so I gave a Pawn two of them and dismissed them. I checked my inventory, and they hadn’t returned. I then checked my storage, and they weren’t there either. I was also not financially reimbursed for them. The horns were simply gone.
So, there’s your answer. If a Pawn is dismissed or dies, the items they collected are sent to your storage. However, if they’re returning an item that already is at the maximum amount in your storage, the items disappear. The way I figure it: if you’ve already got 99 of something in your storage, you probably won’t care if a few go missing. But that’s just me.