Three Million UK Pension Pots Worth £18.7 Billion Remain Lost

The Pensions Policy Institute reports that more than three million pension pots, totaling at least £18.7 billion, remain lost across the United Kingdom. Research supported by the Money and Pensions Service indicates the average lost pot is worth £6,220, though values vary significantly by demographic. Men's lost pots average £6,830, while women's average £5,370.

Approximately 82% of these lost savings, totaling £12.9 billion across 2.5 million pots, belong to individuals under the age of 55. This trend is attributed to high job mobility and the prevalence of automatic enrolment. For those aged 55 to 74, the average lost pot increases to £10,710. While individuals over 75 hold only 0.26% of lost pots, they have the highest proportion of lost savings relative to their total holdings at 13%.

To address the scale of the challenge, the Money and Pensions Service is developing the MoneyHelper Pensions Dashboard. Expected to launch in the 2027-28 financial year, the tool will provide a single overview of pensions and help savers locate accounts they have lost touch with. The findings were released ahead of National Pensions Tracing Day on October 25 to encourage savers to reunite with their missing funds.