Almost £20 billion of pension pots unclaimed mainly due to house moves - Article Bishop Auckland : Mitchells Grievson

Almost £20 billion of pension pots unclaimed mainly due to house moves

Research conducted by the ABI shows only 1 in 25 people consider telling their pension provider when they move home. Experts estimate there is over 1.6 million unclaimed pensions worth £19.4 billion with the average lost pension pot being worth around £13,000.

Does this sound familiar to you?

Keeping track of your pensions is not always easy, especially if you've been in multiple schemes, had many jobs over the years and moved house. Even if you can remember the name of your scheme, it could now be called something different as over time pension close, merge and are renamed. The sooner you trace a lost pension the easier you will find to trace it.

How do I track down my pension?

MoneyHelper is a useful source of free and impartial information which is funded by the Government. It will take you through the steps to track down your pension including:

  1. Are you sure your pension is lost? Ie. Is it likely that you had a pension?
  2. How to track down a personal or workplace pension?
  3. How to contact the pension provider or employer? Including draft template letters
  4. How to contact the Pension Tracing Service?

Plus other tips and advice if you are still struggling to locate your pensions.

Visit MoneyHelper for further details.

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Mitchells Grievson is a trading name of Mitchells Grievson Limited, a Company registered in England & Wales, Company Number 06527386, Registered Office Kensington House, 3 Kensington, Bishop Auckland, County Durham, DL14 6HX.


Mitchells Grievson Chartered Accountants, Kensington House, 3 Kensington, Bishop Auckland, County Durham DL14 6HX

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