How to find lost pensions.

For many in the UK, pensions represent the foundation of a secure retirement. Yet, it’s estimated that there are millions of “lost” pensions— unclaimed pots of savings worth billions of pounds. With job changes, relocation, and shifting financial priorities, it’s easy to lose track of these valuable assets. If you suspect you may have a forgotten pension, here’s how to find it and ensure your retirement planning stays on track.

Why do pensions go missing?

Lost pensions often arise from life changes such as:

• Changing jobs: The average UK worker changes jobs 9 times in their career. Many employers set up workplace pensions, which can be forgotten when employees move on.
• Moving house: If pension providers are not notified of address changes, correspondence may stop, leaving savers unaware of their pension status.
• Merging providers: Pension schemes may be consolidated or rebranded, leading to confusion about account details.

Guide to finding lost pensions

1. Gather your information

Start by gathering as much information as possible about your past employment and pension schemes. Key details include:

•    The names of previous employers
•    Approximate dates of employment
•    Any paperwork related to pensions, such as statements or welcome letters.

2. Use the Pension Tracing Service

The UK government offers a free Pension Tracing Service to help you locate lost pensions. The service provides contact details for pension schemes based on your former employers. You can access it online or by phone. The tracing service will not tell you the value of your pension or whether you’re entitled to it. You’ll need to contact the provider directly for those details.

3. Contact Pension Providers

If you know the name of a pension provider but lack account details, reach out to them directly. Be prepared to share:

•    Your National Insurance number.
•    Your current and previous addresses.
•    Details about your employment history.

4. Check the Pensions Dashboard (coming soon)

The government is developing the Pensions Dashboard, a digital tool that will allow savers to view all their pension pots in one place. Once launched, this will streamline the process of locating and managing pensions. Pension providers and schemes have until 31st October 2026 to connect to dashboards. 

5. Hire a Financial Adviser

If the process feels overwhelming, a professional financial adviser can help. Advisers have expertise in tracking pensions and can guide you on consolidating pots or optimising your retirement strategy.

Preventing future pension loss

To avoid losing track of pensions in the future:

•    Keep records updated: Notify your pension providers whenever you change your address, name, or contact details.
•    Track job changes: Maintain a list of employers and pension schemes as part of your financial records.
•    Consider consolidation: If appropriate, consolidating smaller pensions into one scheme can simplify management and reduce fees.

Why finding lost pensions matters

A lost pension may seem insignificant, but even a small pot can grow significantly over time. Reuniting with lost pensions ensures that you maximise your retirement income and make informed decisions about your future.

At Dentons Wealth, we specialise in helping individuals find and manage their pensions. Whether you’re just starting your search or need advice on consolidating your pots, our advisers are here to help. Contact us today to secure your financial future.

Although every effort has been made to ensure that the information provided in this article is accurate and correct, the information provided does not constitute any form of financial advice. We recommend that you take financial advice before making any financial decisions.

Sources:

Career change statistics UK 2024 - Data, reports & surveys

There’s currently £26.6 billion pounds of unclaimed pension money in the UK – do you have any lost pension pots? | Insights | M&G Wealth Advice

Homepage | UK Pensions Dashboards Programme