Unearth your hidden pots

FIVE-MINUTE GUIDE TO...TRACING LOST PENSIONS

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CALL TODAY Don't leave your pensions to pot luck

CALLS to the Government's Pension Tracing Service have surged 58% over the past year, from 43,614 to 68,709, a study by chartered accountants Lubbock Fine shows. Since May 2024, more than 993,000 people have used the free service, as the cost-of-living crisis focuses minds on maximising retirement incomes.

Andrew Tricker, director of Lubbock Fine Wealth Management, said with people moving jobs more frequently, it's easier than ever to lose track of pension pots.

“Especially as the workplace auto-enrolment scheme has broadened pension ownership.”

He said that people often find that old pension pots may be invested in the wrong place for their situation.

“They may have preset risk levels that are no longer appropriate for their risk profile,” added Tricker.