You don’t have to be a private eye to track down your lost pensions

You don’t have to be a private eye to track down your lost pensions

With the pace of modern life, there’s a lot to juggle. Keeping on top of your old pensions might not be top of your list. And over time it can be easy to lose track of them.

A lot of people forget to let their previous pension providers know when they’ve moved home. And when those providers can’t get in touch, that money just sits there, classified as ‘lost’ – waiting to be reunited with its owner.

The number of lost pensions has gone up in recent years, with recent figures showing their total value being close to £31 billion!

The good news is you can check, track and reclaim any lost pensions you have

And you don’t have to hire a private detective to find them. There’s some simple things you can do to check if you’ve got a lost pension.

Look for clues in your paperwork

Have a look through any old payslips, P60’s employment contracts, or any letters or emails from pension providers. They might give you some vital clues to your old pension schemes, such as membership references or account numbers which you can use to identify your pension.

Get in touch with your old employer/s

They’ll be able to let you know the pension schemes they offered. Even if the company no longer exists, the pension scheme might have been transferred to a new provider. And that’s useful to put you on the right track.

Use the government’s free Pension Tracing Service

Their online service can help you hunt down those pension schemes and contact details. Alternatively, you can call them on 0800 731 0175 (that’s +44 (0)191 218 7777 if you’re outside the UK).

A financial adviser can help too

They may be able to help you track down your old pension for you. Just bear in mind they’re likely to charge you for their time and services. You can find a financial adviser, who’s regulated by the Financial Conduct Authority at www.unbiased.co.uk

So, if you think you’ve lost a pension, take action

After all it’s your money that you’ve worked hard for. And a little time now playing detective could make all the difference.