PENSION TRACING SERVICE – LAUNCH OF NEW WEBSITE
May 2016 No: 1
It is a common problem when people divorce, and retire, that they have difficulty locating details of all pension schemes they have paid into. On average, people now have 11 different jobs during their working lives. Many pay into schemes, stop contributions when they move to another job, and many years later, have forgotten or lost relevant details.
When couples divorce, they have potential claims against each other’s pensions. Both parties should disclose full details of all pension schemes they have ever paid into. Even if contributions were only made for a limited period, the schemes may have a surprisingly high value.
A new DWP website has been launched by the Pension Tracing Service to help people obtain details of old schemes. There is currently an estimated £400 million in unclaimed pension savings.
To access the free online service, click on the following link:- www.gov.uk/find-pension-contact-details.