If you’ve changed jobs a few times, there’s a good chance you’ve left a pension or two behind.
You wouldn’t be alone. The Association of British Insurers estimates that more than £26 billion of UK pension savings are sitting in “lost” pots. With auto-enrolment now over a decade old, that number continues to grow. The good news? Finding and reuniting with those pensions is easier than you might think. Here’s a straightforward guide on how to do it and what to consider once they’ve been found.
1. Start With What You Know
Begin by making a list of every employer you’ve worked for, along with the approximate dates of your employment. Old payslips, P60s or employment contracts are often buried in drawers or email archives.
For each employer, note:
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Company name and address (even if it’s since changed)
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Dates of employment
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Any pension provider name that appears on paperwork or payslips
Suppose you can recall seeing names like Aviva, Scottish Widows, Standard Life, Legal & General, or Nest. In that case, you already have your first leads.
2. Use the Government’s Free Pension Tracing Service
Once you have a list, visit the official Pension Tracing Service.
It’s completely free and run by the government. Beware of copycat sites that charge for the same information.
You’ll need the employer’s name or the pension provider’s name. The service will inform you of who currently holds the scheme’s records and provide you with the contact details.
If you’re not sure whether you were ever enrolled in a pension with a particular employer, it’s still worth checking. Auto-enrolment began rolling out in 2012, and most employers have now been required to offer a scheme for several years.
3. Contact Each Provider
When you reach out to a provider, they’ll need to verify your identity. Typically, they’ll ask for:
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Full name and date of birth
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National Insurance number
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Current and previous addresses
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The employer’s name and approximate employment dates
Once verified, they can confirm whether you have a policy, its value, and whether it’s still active or was transferred elsewhere.
4. Check for Multiple Small Pots
You may find several small pensions worth a few hundred or thousand pounds each. Many people do.
Individually, they may seem insignificant, but together, they can make a real difference.
Before you rush to combine them, consider:
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Charges: Some older schemes have high annual fees.
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Guaranteed benefits: Older pensions can include valuable guarantees (for example, a guaranteed annuity rate).
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Investment flexibility: Newer schemes often provide broader investment choice and online access.
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Transfer penalties: Some older contracts apply exit fees.
A financial planner can compare the costs and benefits objectively and tell you which pots are worth merging and which are better left alone.
5. Avoid the Scammers
Lost pensions are a prime hunting ground for fraudsters. Common warning signs include:
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Unsolicited calls or emails claiming to help you “unlock” your pension early
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Promises of unusually high or “guaranteed” returns
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Pressure to make quick decisions or transfer funds
Once a pension is transferred to a scam scheme, recovery is often impossible. Always check that any firm you deal with is authorised by the Financial Conduct Authority (FCA). You can verify this via the FCA register.
6. Bring It All Together
When you’ve located everything, create a single pension inventory:
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Scheme name and provider
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Policy number
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Current value
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Investment funds or strategy
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Contact details for each provider
Keep this document with your other financial paperwork and, ideally, share a copy with your financial planner or spouse. It makes annual reviews far simpler and ensures nothing slips through the cracks again.
7. When to Get Advice
Reuniting with old pensions is the first step. Deciding what to do with them marks the beginning of proper planning.
Questions to discuss with a planner include:
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Should you consolidate, or leave them separate?
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How do the charges and investment options compare?
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Do any include valuable benefits worth protecting?
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How do they fit into your broader retirement income plan?
At PWS Financial Consulting, we help clients map out every pension they hold, then build a coordinated strategy that balances cost, risk, and flexibility. Seeking professional advice can provide you with a sense of security and ensure you’re making the best decisions for your future.
Finding lost pensions can feel like detective work, but it’s one of the simplest ways to boost your long-term wealth without saving a penny more. A few phone calls today could mean thousands of pounds more in your retirement tomorrow. This potential financial boost should motivate you to start your pension tracking journey.
If you need advice, we’re here to help. Schedule a free, no-obligation chat here. A guide on selecting a financial advisor is also available here.
This article is for general information only and does not constitute personal advice. If you’d like advice tailored to your specific circumstances, please contact us.
