If you’ve been employed by different companies you may have lost track of pensions over the years. If you’re querying where your pensions are and how much money you have for your retirement then our lost pension team could help.
Often called a frozen or dormant pension, lost pensions are a problem that we can help you rectify. It’s estimated that lost pension pots could be worth up to £50 million by the year 2050 in the UK. That would be £50 million in pensions that people have paid into and don’t regular review or have forgotten about.
Find Lost or Dormant Pensions
If you’ve contributed to a pension then it’s your money and we want to help you recover that money. Even if you no longer work at the same company where you paid into your pension, it’s your money and you can manage it how you wish. Statistics show that on average we have 11 employers during our careers. This could mean multiple pensions that people have forgotten about. We can help you source the details to find out if you have a pension with an old employer and then obtain a fund value. You can then decide what you wish to do with that pension and how control over how it is invested.
Typically in later life you would want to protect your pension and your attitude to risk may change. You could have pensions which have the wrong risk profile and it could be detrimental to your pension value. Some pensions are also more expensive to administer so it’s always best to get a qualified specialist to give you advice.
Pension Checks for Lost Pensions
Our pension advisers can offer you a free pension review and advice on your dormant defined contribution pensions. If you know your employers name, estimated dates you worked for the company, national insurance number and date of birth that’s typically the primary information you need to check if you have a pension and request a statement.
Once we have the necessary pension statements we can assess how your funds are being maximised and whether changes could be made to enhance your pension. You are under no obligation to proceed with our advice but we would be happy to assist. We explain every step in detail and can talk you through the process to re-acquaint you with your pensions.