How to Trace Lost Pensions

Have you worked for different employers over the years? Moved house a few times?

If so, you may have lost track of one or more pensions along the way. It’s surprisingly common—and it could mean that some of your hard-earned retirement savings are sitting untouched in old accounts.

According to research by the Pensions Policy Institute, more than 2.8 million pension pots are now classed as “lost” in the UK—an increase of 75% in just four years. Together, these forgotten pensions are estimated to hold over £26 billion.

If you’re approaching retirement, now is a sensible time to check. Reconnecting with old pensions could increase your retirement income, give you more control over your investments, and make things easier for your family in the future.

Why It’s Worth Taking the Time

Every Bit of Retirement Income Counts

When you change jobs or move house, your pension paperwork doesn’t always follow. Add in years of different employers, mergers, and life admin—and it’s no surprise many people end up with pensions they’ve forgotten about entirely.

Individually, some pots may seem small, but added together, they could make a meaningful difference to your retirement. Even a modest pension could help cover bills, fund a trip, or provide a bit of extra financial breathing room.

Keep Control of How Your Money Is Invested

If a pension is out of sight, it’s likely out of mind too—which means you’re not monitoring how that money is invested. As you approach retirement, this becomes more important.

Many pension providers automatically begin shifting your money into lower-risk investments as you near retirement—a process known as lifestyling. While this helps protect your savings from market dips, it’s only effective if the provider has your up-to-date details and you’re actively engaged with the fund.

Once you track down any lost pensions, you’ll be able to decide whether to keep the money where it is, make changes to the investment strategy, or use it to fund an annuity or income drawdown.

One Pension, One Plan?

Once you’ve located your old pensions, you might choose to consolidate them into a single, easier-to-manage plan. This won’t be the right option for everyone—but it can simplify your finances and make retirement planning more straightforward.

Having one larger fund could help you:

• Monitor performance more easily
• Cut down on paperwork
• Potentially access better annuity rates if you later choose to convert it into a guaranteed income

However, consolidation can come with trade-offs. Some older pension schemes include valuable benefits—such as guaranteed annuity rates or protected tax-free cash—that you could lose by transferring. It’s important to check before making any changes.

For impartial guidance, the government-backed MoneyHelper website is a good place to start. You may also want to speak with a regulated financial adviser to ensure you’re making the right decision for your circumstances.

Avoid Leaving a Burden Behind

It’s easy to put pension admin on the back burner. But if something were to happen to you, your family might face a complex task trying to track down and claim your forgotten pensions—especially if there’s little paperwork to go on.

By tracing and organising your pensions now, you’ll give your loved ones a clearer picture of your financial affairs. This can ease the pressure on them later and help ensure your money goes where you intend it to.

How to Start Tracing Lost Pensions

Thanks to a few key services, tracking down lost pensions is more straightforward than many people expect. Here’s how to begin:

1. Check Your Paperwork

Most pension schemes send out annual statements, so it’s worth going through any old files or folders to see what you can find. Look for the name of the pension provider or the company that ran the scheme.

2. Contact Your Pension Provider

If you know the name of your provider but haven’t received statements in a while, contact them directly. They may simply need your updated address. It helps to have the following ready:

• Your plan number (if you have it)
• Your date of birth
• Your National Insurance number
• An estimate of when the pension was set up

3. Speak to a Former Employer

If the pension was linked to a past job and you’re not sure who ran the scheme, try contacting your former employer’s HR or payroll department. The following details will help:

• When you worked there
• Your National Insurance number
• When the pension started
• Your date of birth

4. Use the Pension Tracing Service

If you’re still unsure who to contact, the Pension Tracing Service is a free government tool that searches a database of over 200,000 workplace and personal pension schemes. It can help you reconnect with providers even if the company you worked for no longer exists.

You can call them on 0800 731 0193 or use their free online search tool.

Take the First Step Today

Reclaiming lost pensions isn’t just about money—it’s about peace of mind. Tracing and reviewing your old pension pots could:

• Increase your retirement income
• Help you take control of your investments
• Simplify matters for your family in the future

Don’t let years of savings go unnoticed. Start your search today and give yourself the reassurance that everything’s accounted for.

Once you’ve gathered your pensions, you can use our free online tool to see what kind of retirement income they could provide.