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Forgotten pensions.

HALF of Britons have no idea how much money they have built up in pension schemes and one in six have even lost track of where the money is saved, a survey shows today.

One of the main reasons people gave for losing track of their pension was that they changed jobs, according to government website Directgov.

The research found that one in five people had changed employer at least five times by the time they were 34 while a third of people had paid into two or more pensions. Around 15 per cent of those questioned also claimed they did not bother keeping track of their retirement savings because they did not think they were worth much.

But Directgov warned that people could be losing out on benefits worth thousands of pounds by failing to keep track of pensions.

The government has launched a free pensions tracing tool at to help people track down retirement savings.
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Publication:Coventry Evening Telegraph (England)
Date:Sep 14, 2007
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