A new DWP website has been launched by the Pension Tracing Service to help people find their lost workplace or personal pension savings. There is currently an estimated £400 million unclaimed.
The new service is simple to use and provides trace results immediately. Individuals enter their former employers’ details into the online database and are provided with contact details for pension schemes they may have paid into. It’s a free service that enables people to search a database of more than 320,000 pension scheme administrators.
Over the past 10 years there has been a 436% increase in tracing requests and this is likely to continue in light of the pension freedoms.
To access the service please click here.
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