The day the clocks go back (this Sunday) is also an important day in the pensions calendar – it’s National Pension Tracing Day!
Traditionally falling on the last Sunday of October, the purpose of this annual reminder is to encourage people to locate and trace their lost or forgotten pensions.
It’s surprising how many people have pension plans from previous jobs or contributions to retirement funds they’ve lost track of over the years. Did you know as many as 1 in 20 people could have a pension they didn’t know they had? In fact, it has been estimated that there could be about 3.3 million lost or forgotten pension pots out there, worth an average of £9,500 each. That’s over £31.1 billion in total!
So, why not use the extra hour on Sunday to check if you have a lost pension too – it could be well worth the effort?
Visit our Looking for a Lost Pension page to get started.
Time to pay your pension some attention
In case you missed it, Pension Tracing Day also falls alongside the 2024 Pension Attention campaign, which launched on 6 September and runs until 8 November.
Led by the Association of British Insurers (ABI) and the Pensions and Lifetime Savings Association (PLSA), it aims to boost pension awareness by inspiring the nation to engage with their pension.
This year marks the third Pension Attention campaign, which is fronted by reality TV star Gemma Collins.
The campaign sees Gemma star in a parody beauty advert, which tackles getting older and the effects of ageing – one of the top concerns of UK adults over the age of 35.
It urges British savers to forget their fears of fine lines, or worries about wrinkles, and instead prioritise their pension pot when thinking about later life.
To learn more about the campaign and to watch the video, click here.
Happy pension tracing (and saving)!