Online Lost Pension Tracing Service
Published / Last Updated on 19/05/2016
Online Lost Pension Tracing Service.
The Department for Work and Pensions (DWP) has launched a new online service via its Pension Tracing Service department to help people track down the whereabouts of pensions that they may have had with employers many years ago.
Baroness Ros Altmann, The Minister for Pensions said:
'People have had on average 11 jobs during their working life which can mean they have as many work place pensions to keep track of. The new DWP online Pension Tracing Service helps reunite people with their lost pensions, giving details of providers to help people track them down. I'd encourage anyone who thinks they may be missing out on any savings to use the free online service.'
The Government estimate that over £400m remains in unclaimed pensions. Whilst pension companies themselves do have procedures to try and trace individuals that have pensions, the DWP now holds a database of over 320,000 pension schemes linked to employers, even if the employer closed down many years ago.
The service is easy to use and you can complete the search request process in a matter of minutes.