19 MAY 2023


Consolidating your Pension Savings

Consolidating your pension savings – how to track down a lost pension

Most people work for more than one employer over the course of their working life, and especially in the younger years of your career keeping track of your pension savings can seem low down on the list of priorities. It’s therefore common to have multiple misplaced pension pots, and these may even include personal pensions if you have spent time being self-employed, or if you contracted out of the State Second Pension or SERPS in the past.

It’s important to track down any lost pots you might have – after all, it’s your money, and without a clear view of all your pension savings its difficult to establish whether you’re on track to meet your retirement goals.

If you’ve dug through your drawers of paperwork at home, and still think you’re missing something, follow this 4 step guide to tracking down your lost pots:

  1. Visit Find pension contact details - GOV.UK (www.gov.uk) and enter the names of employers you have worked for or personal pensions you set up.
  2. Use the contact details provided (normally phone, email or postal address) to make contact with your scheme or plan administrator or trustees and ask them to connect you with your lost savings.
  3. Wait for them to send you details of your pension savings held.
  4. Decide whether to leave the monies where they are, or consolidate them into your current pension saving plan to benefit from ease of admin going forwards (you might want to speak to your adviser to check what they would recommend in each case).