How do people lose their pensions?

It's easier than you think to lose track of your pension, in fact, last year there were unclaimed savings up to £5 billion.

It's definitely worth checking to see if you have any lost pensions, even if you are aware of some pensions you may have. We can give you the 100% certainty you need with regards to your pensions. 

Moving address

Moving can cause you to lose track of your pensions, this is because a pension provider will try and contact you via the post - If you do not update you address with your pension provider then they will try and contact you but if they are unable, you will then be responsible to contact them yourself.

New contact number

Changing your contact number can also mean that pension providers may not be able to contact you, especially if you have moved address (as mentioned above). It is always worth to make sure they have at least a secondary number for yourself just in case they are unable to contact you using your primary contact number.

Changing your name

If you have changed your name or you have recently married, then providers usually are unable to locate a record of your policy because your policy was under your maiden name. If they do manage to locate your policy then they will require proof of your previous and current name (marriage certificate).

May be in receipt / received refund

Sometimes you may believe that you have lost a pension - where the case may be that you are already receiving this pension without being aware, or you may of had a refund for that pension. If you are in receipt of your pension, you would have paperwork to back it up, however paperwork is easy to lose.

Pension schemes or pensions transferring

Sometimes a pension scheme that you were enrolled in may either be transferred to another provider or can go to places such as the pension protection fund. Most providers keep their archives for up to 7 years. This means there could be a chance that they are unable to provide you with details as to where the pension went.

Losing paperwork

Losing track of any pension paperwork can be a pain and the paperwork is what contains all of the policy numbers you may need, including any details about pension schemes. You ideally should be receiving yearly annual statements. 

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