Find my pensions

What happens to my pension when I leave a company?

Find my pensions

You definitely don’t lose it. Your hard-earned money is saved in a pension pot which you’ll be able to access once you retire. The age you can access your retirement funds is currently 55, and is expected to be raised to 57 in 2028.

It is important to know that every time you start with a new employer, you get a new pension plan. You have a separate pension pot with each workplace, which stays behind when you change jobs. If you have multiple pots, it matters that you know where your pensions are

If pensions seem confusing or daunting, you’re not alone. Raindrop can help you understand how pensions work when changing jobs and what to do if you've lost track of them. Keep on reading.

You don't lose your pension when you change jobs.

If you are an employee, every time you change jobs, you're auto-enrolled to a new workplace pension. You start saving into a new pension pot, possibly with a different pension provider. This is how you could end up with multiple pension pots by the time you retire.

These pension pots do not follow you to your next workplace, but you don't lose them either. They simply stay behind, waiting for you until you decide to retire.

If you’re self-employed, your old pensions will remain saved until you officially retire. For a new pension account, you will have to arrange your own as you’re no longer part of a workplace pension scheme. You can do so by opening a private pension for yourself. Find out more about how self-employed pensions work here.

But you could lose track of your pensions.

When people are not aware that they save in a new pension when they change employers, they end up losing track of their pensions. It is also easy to lose track when your pension provider has been taken over by a bigger pension company, making tracing slightly more difficult. 

It is not the end of the world though. There are several solutions that can help you find your lost pension pots.

  • You could start the search yourself
  • You could use the Government's Pension Tracing Service.
  • You could use Raindrop's smart pension tracing technology

Your pension is your hard-earned money saved in a pension plan, and for you to access once you decide to retire. It matters that you know exactly where your life savings are and how you can have the financial control you need.

Find your pensions and take control of your savings

If you prefer to do the heavy-lifting yourself...

Start with your payslips. On your payslips you’ll find information on your previous employers and their contact details. Get in touch with your past employers and get the contact details of your past pension providers. Your pension search will gradually lead you to your savings. 

You could also use the Government's free pension tracing service to find the contact details of your past employers. However, we find that this service is limited, as the contact details are not always accurate, complicating your pension search.

If you'd rather focus on the more important stuff...

You could let Raindrop take full charge of finding all your lost pensions. If the process of finding your pensions sounds tedious, we will find your pensions so that you don't have to. Sit back and focus on the things that matter.

We don't just find the contact details of your previous pension providers. We go a step further and we find out the value of your pension pots. We then add them to an online dashboard to which you have full visibility access 24/7. 

We understand how frustrating it is to search for your past employers and pension providers, one by one. It is why we have worked hard to build this smart technology for you and make pension tracing a breeze.

Head over to our Pension Finder and start your pension finding journey with us. All you have to do now is sit back and relax.

Not satisfied with just finding your pensions? You can combine your pots.

We can transfer and then combine your pensions into one online pension plan. Combining your pensions will give you full visibility of your life savings as well as the financial security you need.

  • You have 24/7 access to your savings.
  • Your savings are visible in one online dashboard instead of several ones.
  • You'll have peace of mind knowing where your pension savings are.

If you're considering combining your pensions, speak to a financial advisor for expert advice, as capital is at risk. As with all investments, the value of your pensions can go up as well as down.

How we help you

Raindrop's mission is to help as many people as possible find their lost pensions. We want to give you peace of mind and reassurance that your pensions are safe and not lost forever.

We uncomplicate the complicated and simplify pensions, giving you answers to your questions. In this case, the answer that you’re seeking is simple. When you leave a company, your pension doesn't follow you to your next job. This is why it is easy to lose track of your multiple pots. And if you do lose track, we are here to find them for you.

Never lose track of your pensions again, even if you change jobs.

Ready to consolidate your pensions?

Get started in 5 minutes. Why not take a look now and see how easy it is to combine your pensions?

Get started now

Capital at risk

Home illustration