Millsted Consultancy

This Sunday is National Pension Tracing Day, an annual event encouraging people to search for forgotten pensions from previous jobs, with the aim of uniting people with lost retirement savings.

Finding a forgotten pension can significantly improve retirement finances, especially during times of economic uncertainty. There’s an estimated £31.1 billion in unclaimed pensions (up 75% since 2018), with potentially millions of lost pots, accumulated over years of changing jobs.

National Pension Tracing Day also serves as a timely reminder of the need to be cautious of scams when it comes to looking for lost pensions.

As many as 1 in 20 people could have lost a pension, worth an average of £9,500 each. There are a number of resources out there to help both you and your people, thanks to the National Pension Tracing Day website and the government’s free Pension Tracing Service.

So why not take this opportunity to encourage your employees to track down mislaid or overlooked savings pots, and help them take control of their retirement savings and plan for a more financially secure future?