Page 64 • The HERALD • 19th February 2026 v SUPPORT YOUR LOCAL SPECIALISTS v ASK A PROFESSIONAL Do You Have Lost Pensions You Need To Find? by Michael Osman, Oyster Financial Planning Every time you change jobs, there’s a chance a pension fund is le behind, gradually forgotten as your career advances. ese unclaimed funds can go unnoticed for years, potentially resulting in thousands of pounds being missed when you need them most. Without a clear picture of all your retirement savings, you might underestimate your total pot, plan less e ectively or even have your money stuck in high-cost, poorly performing schemes. New research highlights a concerning gap in financial awareness, with many individuals potentially missing out on a signi cant part of their future income because pension pots from previous jobs have been forgotten. e ndings are revealing: one in four UK adults (26%) admits they do not know who their current pension provider is. is lack of engagement is worsened by the fact that two-thirds (66%) have never tried to locate a lost pension. is highlights a widespread misunderstanding of how pensions work, with a quarter (24%) unaware that switching employers o en results in multiple, separate pension pots. is guide will take you through the importance of tracing your old pensions, the potential advantages of consolidating them, and the practical steps you can follow to regain control of your nancial future. Key reasons to trace your pensions include: Find forgotten money, ensure your money is working hard and look to consolidate pensions where appropriate. Reasons to consider consolidating your pensions: Simpler management, potentially lower fee’s, easier and potentially better investment choices and lower risk of losing track. However, there are key considerations and potential drawbacks to consider before consolidating: Possible valuable guarantees as well as possible exit and transfer charges. Ultimately, pension consolidation can be a more e ective way to simplify and e ciently manage your retirement savings. is is a very complex area of nancial planning, and seeking professional advice is important to determine if consolidating your pensions is the best strategy for your speci c situation. Steps to locate your lost pension funds Tracking down your lost pension savings may seem overwhelming. However, there are practical steps you can take to regain control of your pension funds, regardless of how long ago they were set up or how much you remember about them. 1. Gather your work history: Start by listing every employer you’ve had, including company names, locations and the years you worked there. Even short-term or part-time roles may have contributed to a pension scheme. 2. Look for old paperwork: Search your les, emails and storage boxes for any pension statements, enrolment letters or payslips that mention pension deductions. 3. Contact previous employers: Reach out directly to the HR or payroll departments of your former employers. Ask them which pension provider they used during your time at the company and request the scheme’s contact details. 4. Check with pension providers: If you remember the name of a pension provider you used in the past but don’t have your policy details, contact them anyway. 5. Use the Pension Tracing Service: If you’re still having di culty, the government’s free Pension Tracing Service can also work for you. 6. Request up-to-date statements: Once you’ve identi ed a pension provider or administrator, contact them to request current statements and details about the value, features and fees of each pension pot. Conclusion Taking the e ort to trace and manage your old savings is one of the most e ective steps you can take to improve your retirement prospects. By taking responsibility for your pensions, locating every pot, understanding each plan’s features and considering consolidation where suitable, you’re building a stronger, more secure foundation for your future. If you would like help trying to track down lost pensions, your hard-earned money please do get in touch and we will use all the tools at our disposal to locate your money for you to enjoy. Email: michael@oyster nancialplanning.co.uk call: 023 8084 8410 or pop into our o ce in Hythe Village.
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