Millions of a pastes is sitting in lost pensions, according to the Government
It means many savers could eject their wealth by claiming a pot from a previous employer or old personal benefit scheme.
Anyone can get in touch with previous employers to check whether they had a savings technique — or contact pension providers.
Even savers who don’t have details can look for cease to remembered pensions, through the official pension tracing service.
Older machinates typically have higher charges than new pensions schemes, so anyone who distinguishes an old pot should consider transferring, according to Sarah Coles from provider Hargreaves Lansdown.
She said: «Current pensions are easier to keep track of, they also tend to arrange lower charges than some older schemes.»
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But in front savers should check for any valuable guarantees with old schemes that could be good keeping, Ms Coles added.
It comes as the Government prepares to launch a pretended ‘Pensions Dashboard,’ which will allow savers to have an overview of all sparingness resources pots in one place.
A prototype of the tool is set to launch next year and should stingy fewer people lose track of pension pots.
Its hoped the dashboard will also help drive engagement with savings and assist people make better financial decisions regarding their retirement.
Yvonne Braun, commandant of long-term savings and protection policy at the ABI, said: “Now that so many people are untroubled using a range of online financial services, it’s an obvious next up to bring together all the information from all the different pension schemes woman have over a lifetime so they can get an overview as they head in the direction of retirement.»