Find Your Lost Pensions
Failure to keep tabs on old workplace pensions has led to billions of pounds worth of savings being misplaced or forgotten about, according to The Association of British Insurers (ABI). The ABI puts the figure at £26.6 billion, comprising of over 2.8 million pots with an average size of £9,470*.
*Source: Association of British Insurers, 2022
It is not uncommon for clients to suddenly think of an old pension that had long been forgotten about. House moves, career moves, busy family lives make it easy for people to lose track of pension pots.
That short stint in a previous job suddenly comes to mind. Did you make pension contributions whilst there? Did your employer? Or even better did both! These pension plans can be easily undervalued by clients and in some cases written off as not worth the time to track down. Whilst in most cases, a forgotten pension plan will not revolutionise your retirement plans, we have found that many clients are pleasantly surprised after making the effort to track down what is ultimately their money!
Here are some helpful links:
