One in 20 people have a lost pension and over 26.6 billion pounds are lost in misplaced pensions.

Do you have a pension you’ve last track of?

This National Pension Tracing Day (29 October), use the extra hour of the clocks going back to see if you have a pension pot you may be unaware of. You can visit nationalpensiontracingday.co.uk and join the #GreatPensionTreasureHunt on X (formerly Twitter) to find guidance on how to build your found pension pot into your retirement plan. You’ll also see real-life examples of how finding lost pensions has improved people’s lives.

Why tracing lost pensions is important

Finding a lost pension pot could make a huge difference to your life after work, giving you a boost in retirement income and could allow you to plan for a more comfortable retirement. With the cost of living crisis and prices still rising, it could make your life more comfortable now, while giving you peace of mind for the future.

It’s an opportunity you don’t want to miss.

If you don’t have a lost pension pot…

It’ll still give you a chance to pay your pension some attention, to reassess your saving habits and think about whether you could save more for life after work.

To trace a lost pension pot, follow these simple steps:

• Step 1

  List all places you’ve worked at over your lifetime  

• Step 2

  Go through old paperwork and see if you have any pension statements from previous employers  

• Step 3

  Identify any gaps. If you feel like you’re missing something, contact previous employers to find out if you had a pension you might not be aware of
  

• Step 4
  Use the free Pension Tracing Service provided by the government

Think of the bigger picture

Once you’ve reunited with any lost and forgotten about pensions, you may want to take a holistic approach to your pension savings. It might help to take stock of what savings you have currently across all your pension plans. This will help you understand whether you’re on the right path to securing a financially happy retirement or you’ll need to make certain changes to your saving habits to achieve your goals.

Use the Lifestyle Calculator, which considers leisure activities, how many holidays you’d like per year, and where you plan of living, as a guide for how much you’ll need to save for the life you want after work. The guide’s designed to help you work out how much income you might need, to enjoy the lifestyle you hope for.