Data from the Department for Work & Pensions revealed that there is £400 million in lost pensions in the UK. With many people changing jobs throughout their career and opening new pension schemes it can be difficult to keep track of all pension accounts held. However, with a few details, tracing and claiming a lost pension is possible.
How do I find a personal or workplace pension?
Tracking down your pension is not a complicated process. The government, the pension providers and the various regulators all want the lost pension pots back in the hands of the individuals they belong to.
For many, your lost pensions will be from the pre-internet days, so it is likely you will have paper information stored that could be very helpful. Furthermore, regardless of how long the account was created, many providers will send you a physical statement each year. However, moving house often means these statements no longer make it to the intended party. This is when the following contact information would be ideal:
- The name of the workplace or personal pension providers
- Contact details of your employer the workplace pension is linked to
If you know the provider
If you know the name of your personal or workplace pension provider simply get in contact with them. If you only know the name, a simple internet search should help you find the correct details. Providing them with your plan number would be ideal. Failing this, your date of birth, National Insurance number and a rough date of when your pension was set up should suffice.
If you know some contact details
If you have the contact details of a previous employer their accounts department should be able to point you in the right direction of your workplace pension provider. Alternatively, ex-colleagues could have the contact details for either your previous employer or workplace provider so reaching out to them may be fruitful.
If you will be getting in contact with a previous employer in regard to a workplace pension, provide them with as many of the following details as possible:
- Your National Insurance number
- The dates you worked for the company
- The rough date you joined the pension scheme
Pension Tracing Service
If your efforts with an ex-colleague or previous employer isn’t giving you results, the government has a free Pension Tracing Service. It is a simple to use online service that provides trace results immediately.
You can use the service to find your own workplace or personal pension scheme, or that of another person if you have their permission. It can also be used to trace a Civil Service, NHS, teacher or armed forces pension.
Finding a workplace pension
Using the online service to trace a workplace pension means you will need the providers name or the businesses name. This can often be found by looking through old paperwork or asking former colleagues. Alternatively, the Companies House website holds names of all closed and existing companies registered in the UK.
Finding a personal pension
To locate your personal pension online you will need the pension provider or scheme name. If you look through old bank statements your providers name may appear on them.
Finding a Civil Service, NHS, teacher or armed forces pension
If you have an NHS, civil service, teaching or armed forces pension you will need to contact their pensions department directly. All of the public sector pension contacts can be found via the pension tracing service.