Lost or stolen pension? Here’s what to do…

Did you know £37 billion is lost in pension pots across the UK? If you think you’ve lost or forgotten a pension, here’s some tips on how to retrieve it…

How do pensions get lost? 

There are a number of reasons why pensions get lost, and it’s easier than you’d think! 

• Moving house – every time you move house, you need to let your pension providers know otherwise you risk losing your pension. 

• Job hopping – as a contractor, it’s likely you’ve had a few roles over the course of your career, which means you also likely have multiple pension pots. This is because each time you enrol with a new company, you’re often automatically registered with their chosen pension provider. 

• If you opted out of SERPS between 1978 and 2002 – this means your National Insurance contributions would have been redirected into a personal pension. 

How can I retrieve my pension? 

Using your National Insurance Number 

One way to find out if your pension is partially missing is to contact HMRC with your NI number and other relevant information which can be found on any of your payslips. They can use this information to work out whether you contracted out of SERPS and to find prior pension contributions.

Contact your pension provider

If you remember the details of your previous pension provider(s), then it might be worth giving them a call so they can find any missing pension money. They will ask you to provide personal information such as your full name, address and NI number. 

Ask previous employers

If you can’t remember the names of the pension providers you were signed up with, get in touch with the companies you worked for and ask. Talk to HR and provide them with the dates you worked there, as well as your NI number and they should be able to pass on the details of the pension provider. 

Try the government’s pension tracing service 

If you are unable to get in touch with your previous employer for whatever reason, try using the government’s pension tracing service which should be able to find the details of the pension provider you used. 

To combine all of your pensions in one place, we would recommend using Smart Pension. 

We hope this article proved helpful, the team at Mint are here to help if you have any queries. 

Remember, we are an accredited umbrella company so get in touch now if you would like to work with us. Plus, we offer all our contractors a pension scheme which you can opt in and out of at any point!

Get in touch today via [email protected].