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Daily Mirror
Daily Mirror
Business
Levi Winchester

Martin Lewis fan explains how they tracked down lost pension worth £39,000

A Martin Lewis fan has explained how they found £39,000 sitting in a lost pension.

The MoneySavingExpert reader, known only as Lance, said the money was in a Scottish Widows account from “years ago”.

But finding cash in a forgotten bank account or investment product isn’t actually uncommon - in fact, millions of savers have lost track of at least one of their pension pots.

There is thought to be around £50billion lying dormant in old bank accounts, savings, private pensions and more.

Lance told MSE: "I used the information on your site to search for any old pensions I might have had years ago.

“I didn't think it would be a lot, but found I had a £39,000 pension with Scottish Widows. Thank you."

How to track down lost pensions

Most people would've had a workplace pension at some point in their life.

But if you’ve changed jobs, moved house, lost paperwork, or if the company has been taken over or rebranded, it can be tricky to keep tabs on them.

Have you tracked down a lost pension? Let us know: levi.winchester@reachplc.com

There is a free Government tool called the Pension Tracing Service that can help you track down lost pensions.

This is a free service which searches a database of more than 200,000 workplace and personal pension schemes.

But the Pension Tracing Service will only tell you the contact details of a provider - it won't give you details of how much you have invested.

You'll need to contact the pension administrator yourself to find out if you have any funds with them.

The more information you can provide about yourself and your employment history, the easier it will be for experts to track down any money.

Alternatively, if you're looking for an old workplace pension, you can contact your employer and they should be able to provide you with the right details.

Pension Wise and The Pensions Advisory Service are two other free services that offer free advice.

For old bank accounts, there is a free service My Lost Account which could help you find forgotten cash.

To use this service, you simple fill in the form with details and past addresses, and it'll send your details across to more than 30 banks banks and more than 40 building societies.

If it finds you have got a lost account, you'll then be able to get in contact with that bank to reclaim your money.

The Mirror recently reported on how a homeless man was able to put down a deposit on a new home after discovering cash in a lost bank account.

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