The value of lost pension pots in the UK has risen by 60 per cent, or £12bn, since 2018, with around £31.1bn lying in unclaimed, inactive, or lost pension pots, research from the Pensions Policy Institute (PPI), sponsored by the Pension Attention campaign, has found.

Published ahead of National Pension Tracing Day, the analysis showed that many savers across the UK are in danger of missing out on large sums of money, with almost 3.3 million pots not currently claimed by its owner.

The report argued that these lost pensions, which are now worth an average of £9,470 – rising to £13,620 amongst the aged 55–75 cohort – could make a real difference to people’s retirement if they were reunited with their owners.  

Given this, the Pension Attention campaign urged savers to take control of their retirement and make use of free pension tracing tools, particularly ahead of National Pension Tracing Day on 27 October, which is dedicated to help individuals locate and trace their pension funds.

Commenting on the campaign, Pension Attention campaign spokesperson, Chris Blackwood, said: “If you can do one thing today, visit pensionattention.co.uk and use the pension tracing tools to find any lost pension pots. It only takes a few clicks, and you could substantially add to your pot.

"Additionally, you could also retrace your career steps, check old papers, look for any gaps in your pension history, and contact your provider to update your contact details.”

Second Sight, creators of the National Pension Tracing Day, managing director,, employee benefits consulting, Gavin Zaprzala-Banks, added: “The fourth annual National Pension Tracing Day this Sunday, aims to urge the nation to think about their pensions, and consider any lost pots that they might have that need to be retraced.

"We’re calling on all adults to take advantage of the extra hour this weekend, when the clocks go back, to start their search and use the free pension tracing tools available.”
 

---