MARTIN Lewis has shared a simple check that anyone can make to get a cash boost from missing accounts. The money saving expert returned to screens last night for his Martin Lewis Money Show. This w…
Speaking live on the show Martin said Rob's story reveals the benefits of starting pensions early and how compound interest works.Martin said: "If you want to have a check yourself just go to gov.uk pensions tracing service."You'll need to know your employers' or your pension providers name and it will tell you who to check your pension with.
Even before auto-enrolment, like Rob, if you were paying into a pension and moved jobs it could easily be forgotten.That's because the money is invested and grows over time. The Association of British Insurers estimates that there are around 1.6million missing pension pots, with an average size of £13,000.
In total, it says there is some £19.4billion sitting in accounts people have lost track of or misplaced.First gather all the pensions documents you have - this could be paperwork or online documents or emails.Pension providers send annual statements usually by post, and that's why it's worth keeping your address up to date.Ask if they have more information about your pension and its value and they should be able to help.
If you can't get in touch with your old workplace, or your hunting for a private pension then it's worth using theThis lets you search a database of hundreds of thousands of pension scheme contact details to find your provider.Read More on The Sun
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