Eight in ten (81 per cent) working-age adults aren't sure where all their pension pots are, prompting renewed concerns of a future pension savings crisis in the UK, research from pension-finding platform, Raindrop, has revealed.

The data also showed that nearly a fifth (19 per cent) of UK adults who hadn’t retired were ‘really concerned’ they didn’t have enough money saved for retirement.

This rose to 25 per cent for those aged 35-54, who may have previously focused on saving for a mortgage or children but were now prioritising retirement savings.

Almost a quarter (23 per cent) admitted they were worried they wouldn’t be able to afford the lifestyle they wanted in retirement – again, this rose to almost three in ten (28 per cent) of 35-54-year-olds.

Nearly one in five (16 per cent) non-retirees believed that they would have to work for longer than they wanted to because they couldn’t afford to retire when they planned to.

This equates to almost seven million people across the UK who will be forced to delay their retirement plans.

The findings follow recent Pensions Policy Institute (PPI) research, which showed that £31.1bn is estimated to be sat in lost pension pots.

The PPI claimed that there were almost 3.3 million lost pots in the UK, with an average value of nearly £9,500.

Raindrop co-founder and chief commercial officer, Vivan Shridharani, said that “millions of savers have lost pension pots, putting their retirements at risk.

“Due to financial pressures, people are forced to either delay their retirements or significantly alter the lifestyle they had planned yet there are still millions of pension pots sitting unclaimed. Locating all previous pension pots should be the first step savers take to boost their retirement incomes and maximise the value of the pots they’ve already built up.

“However, tracking down old pots is often incredibly complicated and time consuming. Savers desperately need a simple pension finding solution that locates lost pots, puts them in control of their retirement savings and boosts their future financial security.”

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