The short hack for locating misplaced pension pots that could possibly be value hundreds

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Your help makes all of the distinction. Learn extra Uncovering a misplaced pension pot, doubtlessly value hundreds of kilos, may take the identical time as brewing a cup of tea, new analysis suggests.

A research carried out for the Pension Consideration marketing campaign discovered that on common, it takes simply seven minutes and 29 seconds to start the method of finding an outdated pension.

That is across the identical size of time it takes to take heed to couple of songs, or make and sit down with a cup of tea.

This findings had been based mostly on a timed experiment involving 400 people utilizing the Authorities’s pension tracing device, and launched forward of nationwide pension tracing day on Sunday October 26.

Misplaced pensions had been outlined as those who had been forgotten about or pensions that individuals had been conscious of however didn't know how you can find, making it tough to say at retirement.

The Authorities’s “discover pension contact particulars” on-line service – gov.uk/find-pension-contact-details – was used and solely members whose employer was listed on the Authorities web site had been invited to proceed the experiment.

Recruits timed how lengthy it took them to entry the Authorities web site, discover their supplier’s contact particulars and provoke contact by both telephone or letter.

<img src="https://static.independent.co.uk/2025/10/20/10/28/iStock-1431036562.jpeg" srcset="https://static.independent.co.uk/2025/10/20/10/28/iStock-1431036562.jpeg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/10/20/10/28/iStock-1431036562.jpeg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="For those looking to track down a lost pension, experts suggest you “Make a list of everywhere you have worked and check to see if you have pension paperwork for them.”" class="sc-1mc30lb-0 ggpMaE"/> For these seeking to observe down a misplaced pension, specialists counsel you “Make an inventory of all over the place you've gotten labored and verify to see in case you have pension paperwork for them.” (Getty Photographs) Misplaced pensions will be value a mean of £9,500 every, in keeping with these behind the marketing campaign.

Mark Smith, spokesman for the Pension Consideration marketing campaign, stated: “With just some minutes, you can provide your financial savings an actual increase by visiting pensionattention.co.uk and use the pension tracing device to reconnect with forgotten pots and observe our tricks to higher perceive your pension.

“You may additionally discover it useful to assume again to previous jobs, verify by means of outdated paperwork and fill in any gaps in your pension historical past. Don’t neglect to replace your supplier along with your present particulars so that you keep linked to your financial savings for the long run.”

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The Pension Consideration marketing campaign is co-ordinated by the Affiliation of British Insurers (ABI) and Pensions UK, and funded by companies within the pensions business.

Helen Morrissey, head of retirement evaluation, Hargreaves Lansdown, stated: “The misplaced pension drawback continues to loom giant, with a latest FOI (freedom of knowledge request) displaying the Authorities’s pension tracing service fielded round 274,000 calls in just below 5 years.

“Offering contact particulars for employers and suppliers may have helped hundreds of individuals reunite with pensions they misplaced observe of years in the past. It’s a fast name that may go away you hundreds of kilos better-off in retirement.

“Nevertheless, information suggests that is only a drop within the ocean, with the Pensions Coverage Institute estimating there could possibly be as many as 3.3 million misplaced pensions on the market. That is all cash that may make a big enchancment to folks’s existence in retirement and could possibly be the distinction between struggling to make ends meet and having the ability to take pleasure in your golden years.”

Ms Morrissey stated the pensions dashboard, which can assist folks see all their pension pots in a single place, will make it simpler to trace down pensions.

For these seeking to observe down a misplaced pension, she recommended: “Make an inventory of all over the place you've gotten labored and verify to see in case you have pension paperwork for them.

“If you happen to don’t, and you watched you had a pension with them, then give the pension tracing helpline a name. You will want both the identify of the corporate you labored for or the pension supplier. The service gained’t have the ability to let you know in case you have a pension with them however they can provide you contact particulars so you may observe it down.

“When you’ve tracked down your pensions, chances are you'll want to consolidate them into one place. This will prevent time, admin and even value. It’s essential to check your outdated supplier with what your new one can give you.

“What are the charges like? What sort of funding selection is on provide and what help is obtainable to you? Having one overarching view of what you've gotten can rework your retirement planning as you'll view one bigger pension another way to a number of small ones which you will be tempted to money in and spend.

“Nevertheless, earlier than you make the leap, it’s actually essential to verify that you just gained’t be incurring costly exit charges by transferring out. One other factor to watch out of is the potential to overlook out on essential advantages comparable to assured annuity charges, which could possibly be misplaced if the pension is transferred.”