Lost pensions – there is a lot of money out there waiting to be claimed
Many thousands of people could be owed as much as millions in so called ‘lost’ company and personal pensions. Simply moving house and not informing your pension company could lead to your pension company losing track of you.
Around 70,000 people ask the DWP (Department for Work and Pensions) for help in locating lost pots each year. The Unclaimed Assets Register estimate billions of pounds could be remaining unclaimed assets,mhowever the exact figure is unknown.
So if you suspect you have lost pensions here is what you need to do.
Pensions Tracing Service. If you provide them with basic details they are able to searches their database of 200,000 different occupational and personal schemes. Visit its website at www.pension-tracing-service.com Alternatively, you can contact them on 0845 6002 537 or write to Pension Tracing Service at:
The Pension service, Tyneview Park, Whitley Road, Newcastle Upon Tyne, NE98 1BA
What information you need to give them.
Employers nameAny previous trading namesEmployers addressBank or insurance company name of pension providerYour nameYour National Insurance number
The Pensions Tracing Service can provide you with the contact details for the scheme administrator. However it will be up to you to contact them to find out about your pension.
If this does not work these organisations may be able help you find your lost pensions.
The Pensions Advisory Service www.pensionsadvisoryservice.org.uk/
Unclaimed Assets Register www.uar.co.uk/
There is no doubt that the problem of lost pensions is going to become an enormous problem and is far better to find out where they are now rather than later. 20 years from now it is likely to prove much harder to locate any missing assets. And if nothing else we have a much better chance of remembering useful information now rather than at a later data.
If you need help locating your missing pensions, contact us today for help.
