How to find old pensions

On average, we’ll have 11 different jobs over the course of our working lives, meaning we’ll likely build up 11 different pension pots in the process.

It’s no wonder that some of us are struggling to keep tabs on them all: between 2018 and 2022 the number of lost pensions increased by 73%, according to the Pensions Policy Institute - from 1.6 million to more than 2.8 million. The value of these lost pensions stands at £26.6bn.

Here we explain how to track down lost pots, and why keeping tabs on your retirement savings should soon become much easier. 

How can you 'lose' a pension?

There are several reasons why you might lose track of a pension or two.

Changing jobs regularly might mean you have a pension with an employer you'd forgotten about. Or if you've moved house, it's possible that some pension schemes no longer have the correct address for you, which could mean you're no longer receiving annual pension statements.

Many pension schemes now give you the option to go paperless, but it's still possible to lose track of emails or forget login details for pension company websites.

How do I track down a lost pension?

Start by making a list of the employers you've worked for in the past, and check if you have pension paperwork for each of them.

Most pension schemes must send you a statement each year, but if you don't have one or can't find it, contact the relevant employer or the pension company that manages the scheme. 

If you're going straight to the pension company, you'll need the plan number, your date of birth, your National Insurance number and when the plan was set up. Employer schemes will also need to know when you joined and left the company pension scheme. 

Make sure the information the scheme holds on you is up to date - including your contact details and details of who your pension should go to in the event of your death. 

How does the pension tracing service work?

If you're not able to find the contact details for a previous employer or pension provider, you can use the government's free pension tracing service.

You simply need to enter the name of an employer or pension provider.

This will confirm the correct contact details but won't tell you whether you have a pension with that scheme, or how much it's worth.

If you can't use the online service you can call the pension tracing service on 0800 731 0193. 

If you're struggling to track down a defined benefit or final salary scheme, it's worth checking the Pension Protection Fund (PPF) website. The PPF steps in to pay pension benefits where an employer is no longer to meet its obligations. 

What are pensions dashboards?

Pensions dashboards are designed to be a one-stop shop for useful information about your retirement savings.

The idea is that you’ll be able to see up-to-date information about all of your private pensions in one place online, or via an app. You'll also be able to see how much state pension you can expect to receive. 

Around 52 million UK savers will have access to dashboards featuring roughly 130 million pensions – supplied by more than 40,000 separate private, public and state schemes.

The pension dashboard initiative was first unveiled in 2016. Dashboards were supposed to be available for savers to access from August 2023, but another delay has been announced until October 2026. 

Ultimately, savers should be able to get a clear view not just of how many pensions they have - but how much is in them, and how much they're paying in charges.

How to organise your pensions

Here are some simple steps you can take to get on top of your retirement savings:

• Familiarise yourself with the basics: most pension schemes must send you a statement each year, but if you don’t think you’ve had one, or can’t find it, ask your provider. Also make sure any online logins still work.
• Update your details: the onus is on you to tell pension companies of any changes in personal circumstances. If you haven’t updated your address since moving, your pension statements may be going to the wrong place.
• Nominate a beneficiary: after your death, your pension will normally become part of your estate. However, most pension schemes allow anyone to inherit your pension – this doesn’t have to be your spouse or civil partner. Complete a nominated beneficiary form to let your provider know who you would like this person to be.