UK Experts Urge Residents to Recover £31.1 Billion in Lost Pensions

The Pensions Policy Institute and the Pension Attention campaign are urging UK residents to locate millions of forgotten workplace pension savings. Research indicates that approximately 3.3 million pension pots are currently lost, with a total unclaimed value of £31.1 billion. The average lost pot is valued at £9,470, though this figure rises to £13,620 for savers aged 55 to 75.

Experts attribute the growth of unclaimed funds to automatic enrolment and more frequent job changes. The total value of lost pots increased by 60%, or nearly £12 billion, between 2018 and 2024. In response to these trends, the Pensions Policy Institute launched the 2026 Lost Pensions Survey to further analyze the landscape, with results expected in October 2026.

Chris Blackwood of the Pension Attention campaign encourages citizens to use the free Government Pension Tracing Service to identify old providers. While recovered funds must still follow retirement access rules and are not immediate cash payouts, locating them is considered essential for effective retirement planning. Authorities warn the public to utilize free government resources rather than paid recovery services.