'I uncovered a £30,000 pension I didn't realise I had': With 3m pots waiting to be claimed... here's how to find yours

Retail consultant Andrew Evangelidis, 52, was clearing out old paperwork from files he'd kept under his bed for years when he came across a letter that took him by surprise. 

It mentioned an old pension that the father of one hadn't thought about for years and that he had completely forgotten he had. 

In fact, he realised he hadn't received any correspondence about it for some time. The letter he found was addressed to somewhere Andrew used to live, so he realised he had probably not updated his contact details when he moved all that time ago.  

Andrew, who lives in Pinner with his wife, Shaina, 50, and their daughter, Siena, 16, says: 'I phoned the number on the letter but it was no longer operational. So I went on Google, found the new number and gave Standard Life a call.'

He added: 'I explained that I was now at a new address and tentatively asked how much was in my newly discovered pension.'

Andrew was told that the value of the pension was £30,000.

Pension finder: Retail consultant Andrew Evangelidis tracked down a £30,000 old pension

He says: 'I already had seven pension pots worth around £180,000 in total, built up working in the retail sector in buying and merchandising since the 1990s. 

'While going through all my papers, I'd tracked down a few other old pensions, but they were typically only worth about £1,000. 

'Tracking down an old pension valued at £30,000 was a revelation.

'The extra money will be a useful additional financial buffer for my retirement. It gives me more flexibility and I will probably take a lump sum from my pension when I'm 57. 

'My wife is from Kenya and as we get older, we may choose to spend part of the year over there once we retire.' 

Andrew is not sure when he will stop working, but fears he has not saved enough for retirement. The pension discovery will make all the difference. 

He says: 'I know I am in a fortunate position as many people my age won't even have £100,000 saved in pensions, but I still worry I won't have enough to fund my retirement. 

'I also worry about proposed changes to the state pension triple lock. 

'On the one hand, as a taxpayer, I know the triple lock is expensive. But on the other hand, changes to the state pension look set to negatively affect me when I'm older, which is concerning. 

'The state pension will either be lower by the time I retire, or there might not even be one at all.' 

Lost pension pots growing problem as jobs for life vanish     

More than three million pension pots are lost across the UK, worth an average of £6,000 each, according to the Pensions Policy Institute (PPI).

Younger workers are particularly at risk of losing track of pensions, with 37 per cent of those aged between 18 and 29 unsure where some or all of their previous pensions are. 

Around 2.5million lost pension pots are thought to belong to people under the age of 55, according to the research, supported by the government-backed Money and Pensions Service. 

Separate findings from Standard Life this week showed that 66 per cent of Britons switching jobs do not know how much they have saved in pensions. 

Standard Life found that just a third of people who have worked for multiple employers knew the full details of all their previous pension pots. 

More than a quarter of people do not know where some or all of their pension pots are, including one in ten who do not know where any are held. 

Emma Furlonger, managing director for workplace pensions at Standard Life, says: 'Changing jobs is a normal part of working life, but it's easy for pension savings to slip off the radar as people move between employers. 

'Starting a new role means getting to grips with a new routine and benefits, so it's understandable that pensions built up with previous employers might not be front of mind.' 

How to track down lost pension pots 

If you have lost track of your pensions, start off by checking any previous pension statements or paperwork. 

Furlonger says: 'Providers should send you an annual statement with details of your pension, including its value and what it could be worth in retirement. 

'These documents may also help you identify the provider or scheme administrator.'

If you cannot find any relevant paperwork, you can contact previous employers to find out which pension scheme you were enrolled in. 

They should be able to provide details of the scheme or point you towards the pension provider, helping you take the next steps to track down your pensions.

You can use the Government's free online Pension Tracing Service to get up-to-date contact details for all of your pension schemes. 

Have your National Insurance number and dates of previous employment to hand to make it easier when contacting former employers or providers to track down your savings.

Furlonger adds: 'Keeping your contact details up to date is one of the simplest ways to avoid losing track of your pensions. 

'Make sure all your providers, past and present, have your current address, phone number and personal email address. 

'This is particularly important when changing jobs, as you may no longer have access to your work email. 

'Keeping a record of your pension providers and policy numbers can also make it easier to stay on top of your savings.

'You could also consider bringing your pensions together into one plan, which can make them easier to manage and reduce paperwork. 

'However, this isn't right for everyone, so it's important to check whether you could lose any valuable benefits or guarantees before making a decision.'

Have you discovered a forgotten pension? editor@thisismoney.co.uk 

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