Finding an old pension: a complete guide

Key takeaways

• There are an estimated 3.3 million pension pots considered “lost” or “unclaimed” in the UK holding approximately £31.1 billion in assets, according to the Pensions Policy Institute (PPI) 

• It is free to reclaim an old pension, as the pension pot is legally yours 

• Our partners, Profile Pensions, can help you track down and combine your old pensions and help choose the best investment plan for you 

How do pensions become lost?

While it might seem unlikely that you could lose a pension, lost pension pots are more common than many people might think.

There are an estimated 3.3 million pension pots considered “lost” or “unclaimed” in the UK holding approximately £31.1 billion in assets, according to the Pensions Policy Institute (PPI), based on data collected in September 2024.

There are a number of reasons pensions become lost. These include:

• You move house or relocate without updating your contact details with your pension provider and lose track of correspondence

• You change jobs and forget who your old workplace pension is with – perhaps because you only worked at the firm for a relatively short period

• Your pension provider merges or rebrands, causing difficulty in finding out which company you need to contact

• One of your family members dies and leaves their heirs unaware of existing pension plans

How do I find a lost pension?

Here’s a step-by-step guide to help locate a lost pension:

What happens to old pensions?

Unclaimed pensions in the UK are typically held by pension providers or pension schemes. If you lose track of your pensions or fail to claim them, the funds remain within these accounts. 

Over time, unclaimed pensions may be transferred to a dormant accounts scheme, but you can still claim the funds and ensure you receive your rightful benefits.

Why should I try to find my old pension?

Finding a forgotten or lost pension is always worthwhile because it’s your money and gives you extra funds for your retirement.

Even if you didn’t work at a company for very long, it’s still worth tracking down and retrieving any old pensions.

Because pension pots are invested over time to help grow their value, you may be surprised by how much wealth has built up in a forgotten pension.

Can I find a lost pension with my NI number?

Knowing your National Insurance (NI) number can help you find your lost pension, but you’ll also need to know other details such as the name of your old employer or pension provider.

If you have these you can use the Government's Pension Tracing Service to find the contact details. 

If you don’t know these details or the name of the employer or pension provider has changed, it can be more difficult to track down old pensions. Private companies offer tracing services, but there might also be a fee to pay.

Is it free to reclaim an old pension?

Yes, it is free to reclaim an old pension, as the pension pot is legally yours. You may face a fee if you use a private company to help you locate a pension, though, so consider the costs before taking this option, especially if it’s something you can do yourself.

What if I’m trying to find a pension belonging to someone who has died? 

If you think someone who has died may have had a pension, you can contact their former employers or use the Government’s Pension Tracing Service to find details of potential pension providers.  

You’ll usually need information about the person, such as their full name, previous addresses and employment history. If you find a pension, the provider can explain whether any benefits are payable and what information is needed to make a claim. 

How long does it take to find a lost pension? 

There is no set timescale for finding a lost pension. If you have details such as the name of your former employer or pension provider, the process can be relatively straightforward.  

If you have limited information or the provider has changed its name, it may take longer. Once you have identified the provider, they can tell you what information they need to confirm your pension. 

What information do I need to find an old pension? 

The more information you have, the easier it should be to track down an old pension.  

Useful details include the names and addresses of previous employers, dates you worked for them, old pension statements, previous addresses and the name of the pension provider. Your National Insurance number can also help the provider identify your pension. 

How do I check whether I have SERPS?

SERPS, or the State Earnings-Related Pension Scheme, was an additional amount paid on top of the basic State Pension for some people who were employed between 1978 and 2002.

It is not a separate pension pot that you can trace or recover from a pension provider. If you are entitled to it, it will usually be reflected in your State Pension entitlement.

You can check how much State Pension you may receive by using the Government’s State Pension forecast service. If you have already started claiming your State Pension, check your award letter or contact the Pension Service.

What should I do once I have found my old pension?

Once you've located your old pension, contact the pension provider to verify the key details, including its current value and options for accessing the funds. Make sure you update your contact information with the provider to receive future communications.

The next steps will depend on your personal preference, time of life and how the pension is performing.

Either way, it’s vital you review your pension's terms and conditions, and seek professional advice if needed. Transferring can mean giving up valuable guarantees, protected features or a defined-benefit pension.

You may want to consider consolidating the old pension with your other existing pensions for easier management. It’s much easier to keep track of one pension rather than multiple pots.

Even if you don’t consolidate it with other pensions, keep track of your pension's performance and periodically review its status to ensure it aligns with your retirement goals.

Other useful guides 

If you’re looking for more information on pensions, we have a range of guides to help. These include: 

• How much pension do I need to retire?

• How much should I be paying into my pension?

• Should I have a savings account or pension?

• Different types of pensions explained

Compare pension plans with our partner Profile Pensions

Comparing pension plans with our partners Profile Pensions, part of the Moneyfarm Group, is easy. The service is hassle-free, easy to use and puts you in control of your pensions at all times. 

They can help you track down and combine your old pensions and help choose the best investment plan for you, selecting funds from the whole of the market. You will also have your own dedicated pension adviser to help you.  

Profile Pensions can also help you find and transfer old pensions. When using their  

Find, Check & Transfer service, a one-off arrangement fee of 1% of the pension value is charged when you transfer. All pensions found using this service will also be checked for any existing benefits or penalties.  

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