Digging out your long-lost pension pots

With more than three million pensions lost or unclaimed, LEVI WINCHESTER explains how to get a grip on your cash

- LEVI WINCHESTER

WITH our busy lives, it can be easy to lose track of pensions. An estimated 3.3million pots, worth £31.1billion, are thought to be lost or unclaimed, according to the Pensions Policy Institute. The average lost pension is worth £9470, rising to over £13,600 for those aged 55 to 75. But finding your lost retirement cash may not be as difficult as you think. We explain how you can do it.

WHY DO PENSION POTS BECOME LOST?

There are lots of reasons why you may have forgotten where you have a pension, such as moving address and forgetting to update details with your pension provider, or if you have frequently changed jobs over the years and simply do not remember which scheme you signed up to.