Welcome to our guide on ‘how to find or trace a lost pension’.
Is it time to get your pension pots into shape?
Despite the substantial amount of money at stake, worryingly, less than one in ten (8%) individuals know they have a missing pension but have yet to try to trace it.
Tracking down a lost pension pot can be daunting, especially if you’ve switched jobs multiple times.
According to research, one in six (16%) UK adults have attempted to trace or find a pension that has been lost or forgotten, with only one in ten (9%) managing to do so successfully.
Its estimated that 1.6 million pension pots worth £19.4bn are “lost” each year – the equivalent of £13,000 per plan.
The average lost pension total found was £6,351
Among those who have managed to find their lost pension, the average total was £6,351. Most respondents discovered pensions worth between £1,000 and £5,000 (24%). However, nearly one in ten (8%) traced pensions worth over £20,000.
Need help and guidance?
If you have multiple pensions, it can be challenging to keep track of all of them. If you’re having difficulty finding your pensions, you’re not alone. Don’t hesitate to contact us for more information about your retirement options; we’ll explain how we can help.