You've just realised that you have multiple pension pots with previous employers. We understand how frustrating it can be for you to find your lost pensions, especially when you don't know how to start your search.
There is hope at the end of the tunnel as there are multiple ways for you to trace all your lost pensions.
- You can search for your pensions yourself.
- You can use the Government's Pension Tracing Service.
- You can use Raindrop's smart pension tracing service.
You can find your lost pensions using various methods, not only the Government's Pension Tracing service. Let's discuss your pension finding options.
How you can lose track of your pensions.
Many people don't realise that when they change jobs, their workplace pension does not automatically transfer to the next pension provider. Each workplace has its own pension scheme that auto-enrols its employees. The fact that you can have a unique pension pot with each workplace, helps you understand how easy it is for people to lose track of their pensions.
You can also lose track of your pensions when you change address and forget to update your pension provider. It will be difficult for your pension provider to find you if you forget to do so.
Our mission here at Raindrop is to find as many lost pension pots as possible! We've already found over 3,500 lost pensions worth over £20 million. We can do it for you too.
Your pension is not lost forever - we can find it for you.
How you can find your pensions from years ago
Finding your pensions one by one may seem daunting. You may be thinking 'where do I even start?'. We'll show you where to start your pension search.
It starts with you.
Have a look at your past payslips for any clues on your pension pots or employers. Try to remember your past employers and who you've worked for. You'll need to find their contact details and ask for the whereabouts of your pension. Then you contact your pension provider yourself.
Once you've found your savings pots, you have the option of receiving an income - if you're aged 55 and over - deferring and withdrawing your pension later, or transferring and combining all your pensions. The choice is yours.
Use the Government's Pension Tracing Service.
The Pension Tracing Service tool is set up by the HMRC to help people like you track all their lost savings pensions, and start having the retirement they deserve.
It is a free online service for everyone, and it searches a database of more than 200,000 pension schemes - personal or workplace pensions. You're able to find either the contact details of your past employers or of your pension providers.
However, you should be aware that this Government service is limited. You are still required to phone your past pension provider and enquire about your savings. Also, this service is inaccurate at times because it's not always successful in finding the correct contact details you need. Which means more manual work for you.
If you don't want to do the heavy lifting yourself, we have a better alternative.
Use Raindrop's smart pension tracing service.
You asked and we listened. Our mission is to not only simplify pensions but also to help people like you find their lost pensions and take back control of their retirement.
We have developed a smart pension finding technology that can track all your workplace pensions, and if you wish, to combine them in one place. We are giving you full visibility of your hard-earned money on the Raindrop dashboard.
You are only required to give us some basic information about yourself, and we'll do the rest for you. Sounds simple, right?
Try our pension tracing service as we are confident in our abilities and in our expert tracing technology that works.
What’s more? You will have a dedicated pension assistant for you who will update you through the process of finding your pensions and will help guide you with any questions you may have.
Let us help you in your pension finding journey.
Tracking your lost pensions might seem daunting and difficult, but it doesn't have to be. We are here for you to help you every step of the way.
Start your pension finding journey today and take back control of your pensions and of your financial future.