As winter sets in, the nights are getting darker and colder, and they are about to get longer too when the clocks change this weekend on 24 October. 

Whilst this change in the clocks can't bring back the warmer, lighter summer evenings many are now nostalgic for, it does gift us with an extra hour, which Brits are being urged to put to good use by tracking down their lost pensions. 

This is a pressing issue, as research from the Pensions Policy Institute (PPI) showed there were an estimated 3.3 million lost pension pots in the UK in 2024, accounting for a combined £31.1bn of assets.

It is perhaps unsurprising, then, that the non-profit initiative, led by employee benefits consultancy Secondsight, is supported by several industry organisations: Aegon, Aviva, Legal & General Investment Management, Hargreaves Lansdown, Royal London, Scottish Widows, Smart Pension, Standard Life, The People’s Pension, and the Pay Your Pension Some Attention campaign.

And these organisations have upped their efforts ahead of this weekend, with Fidelity International personal finance specialist, Marianna Hunt, highlighting Pension Tracing Day as a "timely reminder to review your retirement savings - especially if you’ve worked for multiple firms over the years". 

PensionBee chief business officer, Lisa Picardo, also stressed the need for action, acknowledging that "many people move jobs several times over their careers, and small pots can easily be forgotten or lost yet when combined they can add up to a significant sum".

Employers and HR teams have also been encouraged to play their part, as Secondsight called on employers to help their staff to unearth mislaid pension pots which could contain buried treasure.
 
In particular, the group encouraged organisations to use its free toolkit to help their people find what could be worth thousands of pounds.
  
Secondsight principal partner, Darren Laverty said: “When the clocks go back, move your pension knowledge forward. Imagine giving your people a fantastic surprise by helping them find thousands of pounds they didn’t know about.
 
“National Pension Tracing Day gives people the perfect reminder to use an hour gained to start reconnecting with money they’ve already saved, but have forgotten about or overlooked.
 
“With people having, on average, seven different jobs throughout their working life, and often moving house multiple times whilst doing so, it’s no surprise pension pots go missing.
 
“By encouraging their people to take part, employers can make a meaningful difference to the long-term wellbeing of their workforce.”
 
The impact of these efforts is being seen, as a freedom of information request from Hargreaves Lansdown found that the government’s Pension Tracing Service received 273,709 calls between 1 January 2021 and 29 September 2025.

And Hargreaves Lansdown suggested that the number would be even higher except for the fact the Pension Tracing Service was merged with another helpline between 25 May-27 October 2024.

However, Hargreaves Lansdown head of retirement analysis, Helen Morrissey, warned that this remains "just a drop in the ocean" compared to the scale of the full lost pension pots problem.

"The incoming pensions dashboard will make it easier to track down pensions, and the government has plans around the consolidation of small pots," she continued.

"All these things will help, but are still some way off in the distance. National Pension Tracing Day can give you the nudge you need to track down these pensions sooner rather than later."

Industry innovations are also having an impact, as Aegon revealed that its new workplace pension app, Mylo, has found £36m in lost pension savings for its customers in just its first month.
 
Powered by Raindrop, the app enables users to locate and consolidate lost pension pots—helping them take greater control of their retirement savings.

Since launch, over 3,300 lost pots have been recovered for Aegon members, with an average pot size of over £11,000.
 
 

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