You can now trace over £400 million sitting in lost pensions via a new website launched by The Department of Work and Pensions.
Are you absolutely sure none of it is yours?
The site is very simple to use – all you need is brief information about previous employers or the names of previous pension providers. Once past the initial stage the more information you can supply the pension provider with, the better – most schemes will be able to find you with your National Insurance number.
Speaking about the launch, Minister for Pensions, Baroness Ros Altmann said:
People have had on average 11 jobs during their working life, which means they can have many pensions to keep track of. This service helps reunite people with their lost pensions.
£400 million is a lot of lost money. It should only take a few minutes to pop your details into the site and commence the process for finding out if any of it is yours. What do you have to lose?
If you find some lost pensions what next? The chances are that moving the money to a modern online plan will reduce costs, improve performance and leave you with more money at retirement.
I cannot sell you a new pension plan but I can give help and guidance about what to do next. Just pop your details in the “request more information” box and I will get back to you.
Do also take a moment to look at some of my related blog posts below. Paying just a little attention could leave you considerably better off in retirement.
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