Have You Got Unclaimed Pension Funds?

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The UK’s first National Pension Tracing Day will be launched on 31 October 2021.

The campaign has been launched in an attempt to support people in tracing pension pots that may have been either lost or forgotten over the years. Moving house and changing jobs are thought to be the two key factors contributing to the lost pension problem, as people, on average, switch jobs 11 times and move jobs 8 times and forget to notify their pension providers.

It is thought that there are approximately 1.6 million pension pots totalling a combined £19.4 billion that remain unclaimed, with the average lost pension pot being worth around £13,000.

If no action is taken, the Department for Work and Pensions (DWP) has estimated that this could result in as many as 50 million lost pensions by 2050.

If you think you may have lost or unclaimed pensions from a previous workplace, please contact your Finura planner who will be able to assist further.

#WhereisMyPension #FindAllThePensions #PensionTreasureHunt

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Sources: https://www.awarenessdays.com/awareness-days-calendar/national-pension-tracing-day-2021/
https://www.pensions-expert.com/DB-Derisking/National-Pension-Tracing-Day-set-to-launch-with-industry-backing?ct=true

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