How do I find a lost pension?

Most of them can be found. Between the government's Pension Tracing Service, old payslips and P60s, and writing to former employers and their schemes, very few pensions stay lost.

The three routes

  1. 1

    The Pension Tracing Service

    Free, run by the Department for Work and Pensions. It finds the scheme's current contact details from an employer name, which is the usual obstacle after a company has been bought, renamed or wound up.

  2. 2

    Your own paperwork

    Old payslips, P60s and annual benefit statements carry scheme names and membership numbers. A membership number turns a slow enquiry into a quick one.

  3. 3

    Writing to the employer

    Where the company still exists, its payroll or HR team can usually say which provider ran the scheme and when. Where it does not, the tracing service is the route.

What to have ready

Your National Insurance number, the employer's name, and roughly when you worked there. Previous names and addresses help, because schemes lose people most often after a house move or a change of name.

What to do when you find one

Ask the scheme for a current statement, the type of benefits, the charges, and whether any guarantees are attached. That last question is the one people skip, and it is the one that most often changes what you should do next.

What type is it?
A pot of money, or a promise of an income. It changes every other answer.
What are the charges?
Older personal pensions can carry annual charges well above what is available today, and some carry an exit penalty.
Any guarantees?
A guaranteed annuity rate, protected tax-free cash or an enhanced benefit can be worth considerably more than anything on sale now.
Who gets it if you die?
The expression-of-wish form on an old scheme is usually decades out of date, and correcting it takes about ten minutes.

Related questions

Does the Pension Tracing Service cost anything?

No. It is a free government service. Firms that charge a fee to do the same search are charging you for something you can do yourself in a few minutes.

Can you trace them for me?

Yes, and it is one of the most common things we do at the health-check stage. We need your authority to approach the schemes, which is a form we send you.

What if the employer no longer exists?

The scheme usually still does, under a different administrator. Where a scheme was wound up, benefits were normally transferred to an insurer or to the Pension Protection Fund, and both can be traced.

Should I move it once I find it?

Not automatically. Consolidation can cut charges and simplify things, but the guarantees on an older scheme are frequently worth more than the tidiness. Check before you move anything.

Where this fits

Tracing what you have and telling you what it is really worth is part of the free health check, and it is one of the things that most often turns up money people had written off.

Start with a free conversation.

Tell us what is on your mind: a pension you have lost track of, a fixed rate ending, a will you keep meaning to write. We will tell you honestly whether we can help.