How do I find my pensions with a NI number?

Pensions is a topic we should all be aware of. It finances our future self, after all.

It is very common for people to lose track of their pension pots or, worse, to not even be aware that they have one! In the UK, there is £20bn of unclaimed pension money today and it’s only going to grow due to auto-enrolment and people frequently changing jobs.

People do not realise that it is important to let their pension provider know when they change their address. They also do not realise that they have a separate pension pot with each employer, and when they change jobs, they get a different pension too.

There are several ways you can find your lost pension with your NI number. This number is a unique number to you for the purpose of tax and NI contributions reporting. Of course, basic contact details are essential as well, but the NI number is the most important one to have in hand.

How do I find out if I have a pension from an old job?

As there are three types of pension

  • a State Pension
  • a personal pension
  • a workplace question

it is important that you check whether you have unclaimed money for all three.

You are entitled to a State Pension when you’ve been employed in the past and made National Insurance contributions. If you haven't paid taxes before and instead earned a salary below the tax threshold, you are not entitled to a State Pension. Therefore, you need to look at your past payslips to figure out whether you've made NI contributions.

It is worth noting that the value of your State Pension is set to a maximum of £179.60 per week, as of 2021. All you have to do is determine whether you are entitled for it - based on NI payments and an age threshold of 68.

In terms of a personal pension pot, you'll be aware if you have one as it was arranged by you - or from your employer for you. It's a rare occurrence that someone forgets their personal pension as it resembles a personal savings account. However, if it is lost, it is possible to find it by providing your contact details and your NI number to your pension provider.

Lastly, you can find out if you have a pension from an old job by:

  • contacting your previous employers
  • contacting your pension providers
  • using the Government's pension tracing service.

It is better if you can provide as much detail as you can to track your pensions, but it is also possible and easy to find your pension with just your NI number.

Contact your past employers and pension providers

Your past employers can inform you on who your workplace pension providers are in order to trace your pension pots from each job you've had in the past. By providing your NI number and your contact details, you'll find out who your pension provider is and what your unique pension number is.

Then, you are able to contact these pension providers individually, trace your pots and start earning your pension.

Government pension tracing service

This service has been set up by the Government to help people who have lost track of their pensions easily find them - or even discover new pots that they were not aware of! To trace your old pensions through HMRC you need to have at hand the name of your past employer or your past pension provider.

However, some consider this service considerably outdated as you can only find out the contact details of your pension providers - which might be wrong in some cases. You need to contact each pension provider yourself, or even find their correct details, and locate your pension pots as well as their value.

How Raindrop can help you

While the Government's pension tracing service does a superficial job in finding your lost pensions, Raindrop’s service goes to many lengths to find your pensions; not just the contact details of the providers.

Raindrop is not a faceless service. We are here to help you sort out your financial turmoil, plan your retirement and manage your money - starting from finding your old pensions together.

To use Raindrop's pension tracing service, all you need is your NI number and some basic information. We pride ourselves in providing an easy and straightforward pension finder that does not need too much information from you in order to trace your pensions.

We understand how time-consuming and stressful it is to try and locate all your pensions. But we are here for you at every step; you can call us as well as get regular updates during the tracking process - only human interactions with a company that wants to help you.

With a click of a button, our simple technology allows our customers to transfer all their pension pots in one place. You are now able to see your saved money and be in control.

Pensions are already an intricate matter, but Raindrop makes it easy and stress free!

What should I do to make sure I don't lose my pension?

It is a very common issue to lose a pension - you are not the only one.

Whenever you change address or job, your pension provider also changes. To ensure that you don't lose track of them, you should:

  • Inform your pension provider that you moved house and changed address
  • keep a note of all your pension providers and pots throughout your career
  • or you can give yourself peace of mind and trust Raindrop.

Raindrop gives its customers reassurance not only by consolidating all pensions in one place but also by providing 24/7 balance visibility of your pensions. You can keep track of all your pots in one place and never have to worry again about the whereabouts of your life savings.

Find your old pensions with Raindrop

It is never too late to take control of your financial future and start planning your retirement. In fact, it should be done as soon as possible.

With Raindrop you have a clear picture of where your hard-earned money is saved. This allows you to plan your financial future even better, and become financially stable.

Our simple online dashboard will ensure you are always on top of your retirement finances.

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