Tax treatment depends on your circumstances and is subject to change
Finding pensions
A comprehensive guide
Have you worked for multiple employers or changed addresses frequently? Reasons like these can make it more difficult to track down previous pensions. Yet, rediscovering forgotten pensions could transform your retirement finances.
This in-depth guide explains everything you need to know about tracking down lost UK pensions.
Why bother finding old pensions?
1. Maximise your retirement income
The more pension pots you uncover, the greater your retirement savings will be. Even locating a small, long-forgotten pension could make a big difference.
2. Reduce provider fees
Combining multiple pensions means you only pay one set of provider fees, which could reduce how much you are paying out each year. Lower fees mean more of your money goes towards improving your retirement income.
3. Simplify pension management
Monitoring several pension schemes can be time consuming and complicated. Combining your plans into one consolidated pension pot can make it easier to manage your pensions.
4. Benefit from better performing investments
Older pension schemes often fall behind modern plans in terms of investment performance and options. Identifying lost plans allows you to consider transferring to something more tailored to your situation.
5. Ensure loved ones inherit your wealth
Knowing all your pension details makes it easier for beneficiaries to claim any remaining funds after your death.
6. Maximise tax relief
When you contribute to a pension, you receive tax relief up to a limit. Finding lost pensions means you can get relief on any contributions you make to them.
All our opinions relating to taxation and related matters are based on our understanding of the current tax law and practice of HMRC, which is subject to change.
Government figures indicate around £19.4 billion in unclaimed pensions, with 1.6 million people having lost track of a pension. Don't let your retirement savings go undiscovered.
Government figures indicate around £19.4 billion in unclaimed pensions, with 1.6 million people having lost track of a pension. Don't let your retirement savings go undiscovered.
How to find lost pensions in the UK
• Your previous employers should have records relating to any workplace pension schemes you were auto-enrolled in or paid contributions towards.
• Get in touch with the HR departments of all previous employers and ask them to provide information about any pension plans or contributions you have with them. You may need to give them your National Insurance number to help them to locate your records.
• Find any paperwork you still have relating to previous work such as contracts, payslips, pension scheme booklets, correspondence from pension providers, or old bank statements.
• Check for any references to pension scheme names, policy numbers, contributions deducted from your pay or pension providers you were paying into. Even a small detail could serve as a useful clue to track down a lost pension.
• Carefully look back through old bank statements to identify any regular pension contributions you or an employer were making to a pension provider's account. • The name of the recipient account could give you the name of the provider to contact directly about locating a lost pension.
• This free Pension Tracing Service website, provided by the Department for Work and Pensions (DWP) allows you to search for contact details of pension schemes. • All you need is the name of a previous employer or pension provider. It will then display their address and contact information so you can get in touch with them directly about locating your pension.
• This online pension tracking service is currently scheduled to launch in 2026. It will allow people to view details of all their various pensions, including lost or forgotten ones, in a single place. • Register your interest on the MoneyHelper website so you can access the dashboard as soon as it’s available to the public.
• If you already know the name of a pension provider you had a plan with previously, get in touch with them directly. Give them your personal details so they can locate any pensions still in your name.
• Provide your National Insurance number to HMRC or pension providers to help trace previous pensions you may have paid into, even if you've forgotten the scheme names.
• Financial advisers have access to pension tracing tools and resources you can't access yourself. They can often track down lost pensions on your behalf more effectively.
• There are also paid pension tracing services available that will attempt to locate lost pensions. Make sure to only use a tracing service authorised and regulated by the Financial Conduct Authority to avoid scams.
By making use of these pension tracing methods, you should manage to uncover the details of any long-forgotten pension schemes.
Should I transfer old pensions into a new plan?
After tracking down your various pensions, you may want to consider combining them into one consolidated pension plan or pot by transferring the funds. What are the potential benefits of consolidating your pensions?
Lower fees - combining multiple pension pots means you'll just have one set of account, administration, and management fees. This could lower your overall annual fee, which means more money in your pot with the potential to grow.
Simplicity - keeping track of one pension plan is much simpler than monitoring many different schemes with various providers.
Investment performance - older pension schemes could be poorly invested, performing worse than more modern ones. Transferring could boost returns.
Retirement options - newer pension plans may offer more flexibility, like drawdown. Transferring may provide access to better retirement options.
Get organised -- transferring stranded pots into one place can help you identify and locate any pensions you'd forgotten about.
Tax-free cash - some old schemes may not offer tax-free cash options. Combining them into one that does allows access to 25% tax-free cash, giving you greater flexibility.
Passing on wealth - consolidated personal pensions makes it easier to nominate who inherits any leftover funds.
What downsides or risks could consolidating pensions involve?
Exit fees - your old provider might impose exit penalties for transferring your savings to a new scheme.
Losing benefits - some pensions offer valuable benefits that you'd lose by transferring out.
Scams - beware of scammers encouraging pension transfers in order to later steal funds. Only use financial advisers authorised and regulated by the Financial Conduct Authority.
Tax implications - in some cases, transferring a mature pension could result in a tax liability. Seek tax advice.
Long transfers - moving pensions can take months - make sure your funds aren't out of the market for an extended period.
If you have multiple underperforming personal pensions, combining them into one modern pension account may be beneficial. But proceed with caution, get regulated financial advice to check transferring makes sense for you before consolidating any valuable plans.
Tips for keeping track of your pensions
Once you've gone through the hassle of tracking down your pensions, you'll want to make sure you don't lose them again:
Centralise records - keep any pension correspondence, statements, and details together in a dedicated file for easy reference
Document provider details - add pension provider contact information and policy numbers to your address book or accounts spreadsheet for safekeeping
Set reminders - pop pension review reminders in your calendar to prompt you to check statements and details periodically
Notify providers of any changes - inform pension providers if you move house or change contact information so you can continue receiving statements
List pensions in your will - including pension policy details in your will helps beneficiaries locate them if required
Limit the number of plans - consolidate pots where possible - fewer accounts makes things simpler
Seek ongoing help from an adviser - a financial adviser can continually manage and organise your pensions on your behalf
Access pensions online - sign up for online access so you can view your pension details anytime
Using these methods, you should be able to keep your pension details organised and avoid misplacing important information in the future.
Finding lost pensions for a deceased person
Check paperwork and files - look through any employment or pension records of the deceased for provider names, policy numbers, etc.
Contact former employers - ask for pension scheme details from all the companies the person previously worked for
Speak to their bank - their bank may be able to confirm if pension contributions were being made from their account
Get in touch with pension providers - once you have the scheme name, you can request details from the provider directly
Search the Pension Tracing Service website - use information like past employer names to find contact details
Inform the pension provider - notify them of the death so any owed funds can be paid to beneficiaries
Seek help from a financial adviser - advisers often have specialist resources to help trace pensions left by deceased individuals
Contact the DWP - they can check records for any State Pension or benefits the deceased individual was entitled to
Ask solicitors if involved with probate - the solicitor may already have pension scheme details
Talk to HMRC - they may hold records of the person's previous pension contributions
The good news is that any leftover defined contribution pension funds can typically be passed tax-efficiently to nominated beneficiaries. Make locating pensions on behalf of deceased loved ones a priority.
Passing on your pension to a beneficiary
Naming a beneficiary to inherit your pension wealth allows you to pass funds directly to loved ones after your death in a tax-efficient manner outside of probate:
For defined contribution pensions, you can nominate anyone of your choosing as your beneficiary - a relative, spouse, dependant, etc.
Your beneficiaries no longer need to have been financially dependent on you in order to receive your pension savings.
Beneficiaries can inherit funds completely tax-free if you pass away before age 75.
After age 75, beneficiaries need to pay income tax on withdrawals at their marginal rate. The tax rate depends on the size of withdrawals.
Beneficiaries can take funds as a lump sum or leave the pension invested and make periodic withdrawals.
You must complete an expression of wish form with your pension provider naming desired beneficiaries and keep it up to date.
Pensions passed on don't form part of the estate for inheritance tax purposes.
Beneficiaries have up to two years from the date of death to claim any inherited pension funds.
Unclaimed pension funds can end up in a government-run reclaim fund after two years.
Make sure your pension permits inherited death benefits. Consult an adviser to check your expression of wish nomination reflects your wishes.
Staying safe from pension scams
Pension scams are commonplace, often involving enticing promises of fail-safe investments, cash incentives, pension loans, or unusually high returns. Here's how to avoid pension scams:
Ignore any cold calls about pensions - reputable offers will be made in writing after requesting information.
Be wary of anyone creating artificial time pressures, such as limited time offers. Take your time researching.
Double check the Financial Conduct Authority register that any company contacting you is officially registered and authorised.
Never take pension transfer advice from the company receiving the transfer.
Refuse requests for sensitive information, like passwords, from anyone attempting to discuss finances.
Ensure you fully understand how your pension funds are invested.
Treat pension communications with caution, especially from companies you've had no prior dealings with. Thorough vetting, impartial advice, and trusting instincts will all help you to avoid scammers.
Treat pension communications with caution, especially from companies you've had no prior dealings with. Thorough vetting, impartial advice, and trusting instincts will all help you to avoid scammers.
15 common questions about finding pensions in the UK
To find out if you have a pension from a previous employer, first check any paperwork you still have relating to that job for references to a pension scheme or deductions. Contact the HR department of the company to ask if you were auto-enrolled in a workplace pension scheme. Provide your National Insurance number if needed to help them locate your records. You can also contact pension providers you think may have been used by that employer and give your personal details to check if you have a pension in your name.
The quickest route to finding lost pensions is to use the government's free Pension Tracing Service online tool. All you need is the name of a previous employer or pension provider, and it will display their contact details so you can get in touch to locate your pension.
A pension scheme registry number is a unique reference number allocated by The Pensions Regulator to every scheme registered in the UK. The quickest way to find the number for your scheme is to check any previous correspondence from your provider. Alternatively, contact them directly and request the registry number for your specific pension plan.
Yes, your National Insurance number can help track down lost pensions. Contact HMRC and give them your National Insurance number - they can search records of any schemes you may have paid into previously. You can also provide your National Insurance number to pension providers to help them locate any pensions still open in your name.
If a previous employer has closed down, contact the Pension Protection Fund who may have records of the scheme. Alternatively, use the Pension Tracing Service and search the name of the closed business - any related pension schemes should still show up in the results with provider contact details.
If you have exhausted all options and still cannot locate one of your pensions, it may have ended up in the government's Unclaimed Assets Register. Contact them with your personal details and they will let you know if they are holding any unclaimed pension funds in your name. As a last resort, use a regulated paid pension tracing service for help locating very old or obscure schemes.
Combining multiple pensions can make things simpler and reduce costs. But it depends on the features and benefits of your existing plans - advice is recommended. You may lose valuable benefits like guaranteed income by transferring out of certain schemes. Take financial advice to check that consolidating all your pensions is suitable for your situation.
If you fail to claim an old pension before reaching retirement age, the funds may end up being transferred to the government's Unclaimed Assets Register. This usually occurs if the pension provider loses contact with you. To search this list, contact the Unclaimed Assets Register directly to see if any pensions in your name are being held.
To find a pension plan number, you'll need to contact your pension provider directly as they will hold these unique reference numbers on file. Give them your personal details and National Insurance number and they should be able to locate the plan number for any pensions you have with them. Check any old correspondence as plan numbers are usually quoted on annual statements too.
Useful details that can help trace a lost pension include your National Insurance number, previous addresses, employment dates and payroll numbers with an old employer, pension scheme names, policy numbers, or bank details showing regular pension deductions. With even small clues like these, pension providers and tracing services may be able to pinpoint your missing schemes.
You can manage and keep track of multiple pensions together by using a regulated financial adviser. They can maintain records on your behalf and provide you with a consolidated report covering all your different schemes when you need it, saving you the hassle. Some online services also allow you to view details from multiple schemes in one place.
With defined contribution pensions, you can nominate anyone as your beneficiary to inherit your remaining funds when you die by completing an expression of wish form. The money can be passed on tax free if you die before age 75. Speak to a financial adviser to ensure your nomination is legally binding.
Pension liberation fraud involves scammers contacting you unexpectedly and persuading you to access your pension early. They transfer your money into high-risk investments or simply steal it outright. Any cold calls about pensions are illegal. Check the Financial Conduct Authority register before dealing with any pension contacts you didn't initiate.
The time taken by a pension tracing service to locate lost or forgotten pension schemes can range from 1 day up to 12 weeks in more complex cases. However, perseverance is important as pensions containing potentially thousands of pounds could still be successfully recovered on your behalf.
Many major pension providers allow you to access details about your pension plans online via registration. This lets you view current values, contribution details and perform basic maintenance. However, adjustments like changing investment funds may require contacting your provider.
In summary
Finding lost pensions should be a priority to maximise your wealth in retirement
Transferring pensions into one consolidated pot simplifies management, but you must also consider the risks of this
Implement reliable systems to keep your pensions organised in the future
Nominating beneficiaries means your pension wealth can be passed on tax efficiently
Take great care to avoid the many pension scams in operation
Locating forgotten pensions and bringing them together takes effort, but it's worthwhile to ensure the maximum funds for your later years.
The details provided in this article are for general information only and are in no way deemed to be financial advice. All of the material is correct as of the publication date, but could be out-of-date by the time you read the article.
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Pension Access is a trading name of Harbour Rock Capital Limited which is registered in England & Wales as a Limited Company, No. 10290349. Authorised and regulated by the Financial Conduct Authority, No. 754580. Registered Offices: Affinity House, Beaufort Court, Sir Thomas Longley Road, Rochester, Kent, ME2 4FD. Telephone: 0800 009 3388. Email: pensionaccess@harbourrockcapital.co.uk
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Taking pension money early isn’t right for everyone because it could leave you with a lot less to live on in retirement. That’s why it makes sense to talk with a regulated financial adviser first.
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Your FREE information guide contains all the information you need to make an informed decision on whether or not taking tax free cash from your pension is right for you.
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