3.3 million people have a lost pension worth £9,500 - how to track it down

3.3 million people have a lost pension worth £9,500 - how to track it down Billions of pounds, sitting there, waiting for someone to claim it - and it is easier than you think Here's a number worth sitting with for a second; there is currently £31.1 billion sitting in lost and unclaimed pension pots across the UK, spread across roughly 3.3 million pots, each worth an average of £9,470. If you're between 55 and 75, that average jumps to £13,620. Read that again. Billions of pounds, sitting there, waiting for someone to claim it! And there's a genuinely decent chance some of it is yours. How does a pension just go 'missing'? It's easier than you'd think, and it's almost never anyone's fault. The average UK worker has around 11 jobs over their career, and pretty much every job since 2012 comes with an automatic workplace pension attached. Add in a house move, a change of surname, or a pension provider merging with another company, and the link between you and your old pension simply breaks. The money doesn't vanish. It's still sitting there, usually still invested and growing, but the provider has lost your current contact details, and you've probably forgotten the pot exists at all. If you've had more than one job since 2012, moved house, or changed your name, there's a real chance you've got one of these lying around. How to actually check This is the part that puts most people off, because it sounds like it'll take hours. It doesn't. - Use the government's free Pension Tracing Service either by visiting its website or by calling 0800 731 0193. You'll need the name of your old employer or pension provider. It doesn't need to be exact, just enough for them to search. - List every job you've had since starting work, particularly anything longer than a few months, since that's typically enough to trigger workplace pension enrolment. Once you've got contact details for a provider, reach out directly and ask them to confirm whether you have a pension with them, and what it's currently worth. One important warning The government's Pension Tracing Service is completely free- it only gives you contact details, nothing more. If you're contacted out of the blue by someone offering to "trace and consolidate" your pension for a fee, be cautious. It could be a pensions scam! Pensions cold-calling is illegal in the UK, and genuine, reputable firms won't get in touch with you unprompted. If you do want help consolidating pensions once you've found them, only use a company that's regulated by the FCA, and check that on the FCA register yourself before handing over any details. Why it's worth doing today - not 'someday' Pension pots don't disappear and there's no deadline to claim one. But the earlier you find it, the more time that money has to keep working for you, and the less chance there is of a second provider merger or another house move burying the trail even deeper. If you've had more than one job in your working life, it's worth twenty minutes of your time to check. For an average of £9,500, that's a pretty good hourly rate. This article is for general information purposes only and does not constitute financial advice. Always verify you're dealing with the genuine government Pension Tracing Service or an FCA-regulated firm before sharing personal details.