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Earlier this year we wrote about how there is an estimated 37 billion in unclaimed UK workplace pensions. Each year this staggering figure is likely to rise for two main reasons.
Firstly, people are increasingly losing track of their pensions. Your scheme will likely be sending you an annual statement once a year, but if you, like many other expatriates have failed to update the scheme with your address, they will not be able to keep you informed.
Secondly, many people do not believe they have accrued anything significant via their employment and therefore do not bother to track it down. Working for multiple companies is a regular career path. Unfortunately, many people wrongly believe that if they have only worked at a company for a short period of time, they will not have accrued a significant pension benefit. This is often not the case, especially with older pension schemes.
So, if you’ve worked in the UK and you now live overseas how can you track down your pensions?
deVere offer a complimentary pension tracing service. Below you will find a link to our pension tracing form.
Email the completed form to [email protected] – Once the form is received, a deVere adviser will be in touch to advise you on the next steps.