Our Pension Tracing Service

See how our pension tracing service can help you track down your pension and make sure it's in the best place.

There’ s around £20 billion in pension savings waiting to be claimed, but could you own a share of it?

The average lost pension pot is worth around £13,000, and around 1.6m pensions are estimated to be missing, according to research by the Association of British Insurers (ABI).

Often pensions go astray because people change jobs regularly, or because they move home and forget to let their pension provider know.

Many people also contracted out of the Additional State Pension, otherwise known as the State Second Pension or State Earnings Related Pension (SERPs) in the late 1980s or early 90s. This meant their National Insurance Contributions were paid into another pension instead, for example a private pension. Often people lose track of this money or forget that they contracted out at all.

How can Profile Pensions help me trace my pensions?

If you think you might have a missing pension, Profile Pensions is here to help. We've found over £152m in missing pension funds and on average find £25k per pension [1]. All our investigative work and advice is free, with no obligation. We’ll only charge if you decide to switch your pension. You can also find a lost pension through the Government’s free Pension Tracing Service. This can help you find contact details for your workplace or personal pension scheme. However, the service won’t tell you whether you have a pension, or what its value is, so you’ll need to contact the pension provider to find out.

What happens when you’ve traced a pension?

Locating pensions which you’ve lost track of is only the first step if you want to be certain you’ll be able to afford the retirement lifestyle you want.

Once you’ve found any missing pensions, you’ll need to check that the money invested in it is working as hard as it possibly can for you.

We can do this on your behalf, with our advisers able to check whether the pension you’re invested in is appropriate for you based on your approach to risk, how it’s performing, and if the management charges you’re paying are reasonable when compared with alternative plans.

We’ll then provide a report showing what your options are. These could include, for example, consolidating your pensions if you’ve got lots of different plans, which you find it difficult to keep track of, or transferring to a pension with lower charges. Remember, you don’t have to act on this advice, but if you do decide to, we’re here to help you take the next steps.

So, what are you waiting for? If you think you have a missing pension you want to find, and you want to make sure it’s the right plan to suit your needs, start by contacting us.

[1] Research by Profile Pensions – 6,650 policies evaluated 18/01/2019