22 Jul 2020

When moving to a new house costs an extra £121,250

There has been an unexpected cost of moving home – the loss of a pension. Around £19.4 billion lays in ‘lost’ pension pots

1.6 million savers neglected to tell their pension provider when they moved home and then lost touch with the money they own.

The Association of British Insurers (ABI) has discovered that only 1 in 25 savers remembers to tell their pension provider of their change of address.

Our clients, are fortunately not prey to this issue as we liaise with providers on their behalf, however, if you have not let your pension provider know when you last moved, or have family or friends in a similar position, it may benefit you all hugely to get in contact with your provider and ensure you keep track of the money that belongs to you!