What Is a Lost Pension?
A lost pension is a pension that has been forgotten or unclaimed by its rightful owner, which usually can happen for many reasons, such as a change in job, retirement, or death. If you think you may have a lost pension, you can do a few things to find it.
One way to find a lost pension is to contact the pension provider directly. They may be able to help you locate the pension or provide information on how to claim it. There is another way to find a lost pension is to use a pension tracing service. These services can help you locate lost pension pots by searching through government and industry databases. You’ll be charged a fee for this tracing service, but it may be worth it if you cannot find the pension on your own.
How Can You Lost Track of Your Pension?
In case you have worked for multiple companies throughout your career, you may have lost track of some of the pension schemes you have been a part of. Fortunately, you can take a few steps to track down these missing pensions.
First, try contacting your previous employers directly. They should have records of the pension schemes you were enrolled in. If your employers have been acquired or gone out of business, you can try contacting the Pension Benefit Guaranty Corporation (PBGC). The (PBGC) is a government agency that protects pension benefits in certain cases.
What Information Do I Need for Tracing My Pension?
You will need to know the pension scheme name and address, your NI number, date of birth, and when you left the company. If you are not sure which pension scheme you are in, your pension provider should be able to help. Check your pension paperwork or contact them directly. Pension tracing service may also be able to help you find lost pension schemes. For this, you will need to provide as much information as possible.
Pension Tracing Services
If you still can’t find your pension scheme, you may need to use a professional tracing service. This could cost you some amount, but it could be worth it if you’re owed a significant amount of money. Always ensure you shop around and get quotes from a few different tracing services before committing to anything. Pension tracing services can be found through an online search.
When you find your pension scheme, you will need to contact them directly to find out how to claim your pension benefits. If you think you may have a lost pension, it is important to act quickly. The sooner you start looking for it, the better your chances of finding it. With a little effort, you may be able to locate your lost pension and get back on track for a comfortable retirement.
If you are still not sure what to do next or have any other questions about pension tracing, you can contact the pension provider or the government’s pension tracing service for help.