How To Trace Lost Pensions And Savings

A woman sat at a desk looking at paperwork

Billions of pounds are thought to be sitting in forgotten bank accounts, lost savings and pensions. Checking if you’ve got unclaimed funds out there is a free and straightforward process that can potentially boost your financial well-being.

In this guide, we take you through the steps to claim your lost money. Explore how to locate accounts with lost details and uncover funds left by deceased relatives.

How to find lost pensions

The simplest way to find lost pensions is using the UK government’s online Pension Tracing Service. It’s free to use and searches a database of over 200,000 workplace and personal pension schemes to find contact details which aid your search for a missing pension fund.

Gathering as much information as you can before using the Pension Tracing Service can speed up the process of finding your lost pension. It helps to have these details to hand:

National Insurance (NI) number
Name of your old employer
Name of pension provider

You can also request contact details via telephone or post if you prefer – see the government website for more information.

Other options for tracing lost pensions include directly contacting the pension provider, your former employer or former colleagues.

How to find old bank accounts

Tracking down lost or dormant bank and savings accounts can be straightforward, especially if you use the My Lost Account service.

My Lost Account is free to use; complete an online form to get started. Then, the service sends your information to all banks and building societies you think you may have an account with. The service brings together the three tracing schemes of UK Finance (UKF), the Building Societies Association (BSA) and National Savings and Investments (NS&I).

The more information you can provide about your lost account, the better chance there is of finding it. Relevant information that can help locate old bank accounts includes:

When you opened your account
The branch you opened your account with
Approximate balance
Type of account (current account, fixed-rate savings account, Cash ISA, etc)
Sort code and account number (if known)

You’ll also need to fill in your personal information, including your date of birth, current contact details and address. Remember, you may have set up your account under a different name or while living at a previous address, so have these details to hand as well.

You can also contact a bank or building society directly if you think you have an account with them.

How to trace lost Premium Bonds

Your Premium Bonds are grouped under one holder’s number. If you’ve lost your holder’s number, you can recover it and locate your lost Premium Bonds by using the NS&I’s tracing service.

The service provides a form which you download and print, complete, and post back to the NS&I. When completing the form, you’ll need to provide certain details, including your name and address (including old addresses), an estimate of when you were issued your bonds and how much they were worth when you last checked.

You can also use this service to find a deceased relative’s Premium Bonds. All you need is their name, address and relevant documents like their will and death certificate.

Even when lost, Premium Bonds are still valid if you’ve not cashed them in and are still entered into monthly prize draws. So, after tracking down your lost bonds, make sure you check if you’re owed any unclaimed prizes.

Tips to keep track of your accounts

If you’ve opened several bank accounts over the years, keeping up with your money can be tricky. Here are some useful tips to keep track of your bank accounts and ensure you have access to all your funds:

Use online banking. Nowadays, you can set up an online account with most banks and building societies. These let you monitor transactions, check balances and set up alerts easily.
Use mobile apps. Similarly, most banks and building societies also offer a mobile app, giving you access to your accounts on your phone or tablet.
Organise your documents. Keep your banking documents organised and in one place by putting them into a folder or ring binder. It helps to do the same with digital copies of documents, creating folders and categorising them accordingly.
Update contact information. Ensure you receive important communications from your bank by keeping up to date with your contact information. This includes your address, phone number and email address.