We’re going on a pensions hunt…
By Sarah Wilson-Trainor
On Sunday 29th October, it is National Pension Tracing Day! Did you know there are a “staggering £26.6 billion in unclaimed pension funds” *, are you one of the many individuals with lost pension pots?
It is very easy for people to lose track of their pension pots. Life events such as house moves, career changes and busy lives are just a few things that get in the way! However, many people don’t understand how to manage their pension savings, and this could result in them being substantially worse off in retirement.
Here are some other useful tips to get you started on your pension hunt:
- Get your paperwork out and look for details of any forgotten pensions.
- Look at your employment contracts and check payslips for any deducted pension contributions.
- Contact your previous employers and ask for the details of their pension schemes.
A personal pension is slightly different to a workplace pension. Here are some tips:
- For a personal pension contact the pension provider who set it up
- For a workplace pension contact your previous employer who set it up
You may also find this link a useful way to get started on your search: https://www.gov.uk/find-pension-contact-details
Once you find your lost pensions, you can make your life easier and work with us to combine your pensions. Our Chartered Financial Planner Dan has just shared a very useful update on the topic of pension consolidation here.
If you need some help with your pensions, please get in touch with our team today!
* Source: Association of British Insurers, 2022
This post does not constitute advice.