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[BUSINESS] · United Kingdom · 4 sources

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UK pension savers hold three million lost pots worth £6,000 average

pension pots retirement savings lost pensions UK economy financial planning

Research from the Pensions Policy Institute (PPI), supported by the Money and Pensions Service (MaPS), indicates that over three million UK pension pots are currently 'lost' because providers cannot contact the owners. These lost pots have an estimated average value of £6,000.

Approximately 2.5 million of these lost pensions belong to individuals under the age of 55. Demographic data shows that the average value of a lost pot for those aged 55 to 74 is £10,710, roughly double the £5,250 average for those under 55. Additionally, lost pots belonging to men average £6,830, while those belonging to women average £5,370.

To address this issue, MaPS is developing the MoneyHelper Pensions Dashboard, which is expected to launch during the 2027-28 financial year. The tool aims to provide a single overview of pensions and highlight accounts that savers may have lost contact with.

Entities

Money and Pensions Service · Pensions Policy Institute · United Kingdom

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

PPI values lost UK pension pots at £19bn | International Adviser [www.international-adviser.com]
Six Pension Mistakes to Avoid That Could Cost You £10,000s [www.abcmoney.co.uk]
Three million 'lost' pension pots worth an average of £6,000 each [www.independent.co.uk]
Pension savers ‘sitting on three million lost pots worth average of £6,000’ [www.standard.co.uk]