A woman has shared how she helped her husband recover over £2,500 in pension savings after following Martin Lewis' advice.
The Mirror reports that there is an estimated £50 billion worth of lost assets in the UK. This includes lost bank accounts, Premium Bonds, pensions, investments and insurance policies.
Tracking down your lost cash is free and simple to do - and you could end up thousands better off. One couple were inspired to check after watching an episode of The Martin Lewis Money Show Live on ITV.
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The wife, who is called Julia, emailed into the MoneySavingExpert website in August, writing: "Martin, after watching your TV episode on forgotten pensions, we contacted the number on your site for the companies my husband worked for 40 years ago.
“Gave them all the information and within four weeks received a cheque for £2,669 for pension contributions he never realised he'd paid. Thank you."
It can be simple to lose track of pension schemes, as the average person has 12 jobs in their lifetime. If you still have old paperwork from a pension scheme, you can contact the company directly.
If you don't have the paperwork, you could try contacting the HR department of your old employer, who should be able to help.
If all else fails, there is a free tool called the Pension Tracing Service. This service won’t tell you whether you have a pension, or what its value is - but it lets you search by employer, and then find pension schemes linked to them.
This should then help you track down the relevant contact information, so you can contact the pension provider yourself.
You can also use this tool to find contact details for someone else's scheme if you have their pension. If a close relative has died without taking their pension, you may be eligible for that pension fund cash too.
When dealing with affairs after someone's death, you should check their paperwork to see if they had any workplace or personal pensions in place.
The Pension Tracing Tool can only help you find private and workplace pensions - not your state pension. There are over 200,000 pension schemes in the UK.
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