Pension alert: Britons urged to trace lost pensions and recover thousands | Personal Finance | Finance

“So, through job moves, moving house and the demands of modern life, it is surprisingly easy to lose the details of your pension scheme.

The average lost pot holds £13,000 – but some people throw away a lot more than that.

The DWP estimated that Britons may change jobs around 11 times in their professional career, and with auto enrolment it’s more likely they will have different pension pots with different providers.

Ms Marchant continued: “Sounds like he’s in the process of connecting with that pension once he’s proved his identity.”

She added: “I would reassure Neil that pension money because it’s separate from the employer so it wouldn’t be affected by any change of ownership.

“If he is still struggling to connect with that pension, the Government have a really useful pension saving service tool on the Gov.uk website. People just need to search ‘trace a pension’.”

Even if someone’s employer has gone bust, pensions are still protected.