DWP launches new service to help trace lost retirement savings

The DWP has just launched a new website to help people trace their lost retirement savings - www.gov.uk/find-pension-contact-details.

It is estimated that there is currently £400 million in unclaimed retirement savings. The Pension Tracing Service will help you locate workplace or personal pensions you may have paid into in the past, so that you can claim any savings you may be entitled to. However, it cannot tell you whether you actually have any benefits built up in a former pension scheme or give you the current value of a pension pot. The new service is free to use.