People aged 55 to 75 are being urged to check if they can claim a £13,620 pension boost, as new figures from the Pensions Policy Institute (PPI) reveal millions of pension pots remain unclaimed across the UK.
Average lost pension reaches £13,620 for 55-75 age group
The PPI's latest research found that the average size of a lost pension pot is highest among the 55-75 age group, at a staggering £13,620. Overall, the average unclaimed pot is worth £9,470, but the figure rises significantly for those closer to retirement.
Chris Blackwood, spokesperson for the Pension Attention campaign, said: "If you can do one thing today, visit pensionattention.co.uk and use the pension tracing tools to find any lost pension pots. It only takes a few clicks, and you could substantially add to your pot. Additionally, you could also retrace your career steps, check old papers, look for any gaps in your pension history, and contact your provider to update your contact details."
Lost pension value has risen by 60% since 2018
The 2024 data revealed that the value of lost pots in the UK has increased by 60% – nearly £12 billion – between 2018 and 2024. This significant growth highlights the scale of the issue, with billions of pounds sitting in unclaimed pension schemes.
PPI has now launched the 2026 Lost Pensions Survey, building on its 2024 research, with findings to be published in October 2026. The institute stated: "Lost pensions remain a significant and growing issue, with millions of pots worth billions of pounds going unclaimed. By expanding the scope in 2026, we aim to build a more complete and robust picture of the pensions landscape."
How to trace a lost pension safely
Anyone searching for an old workplace pension should be wary of unexpected calls or messages offering to recover their money in return for a fee. These unsolicited offers are often scams, and the Government's Pension Tracing Service is free to use.
Pension savers up and down the country have been reminded that the official tracing service is a safe, no-cost way to locate lost pensions. By taking a few simple steps, individuals could potentially recover thousands of pounds to boost their retirement income.
