Tracking 'old' pensions?

frottles

Hello, I was recently contacted by a company called we find any pension dot com.
The told me I had requested info from somewhere however, I have no recollection? They say they offer 'free' and 'no obligation' advice about finding lost pension pots. I think I have most of the details of the several companies/pots that I've paid into over the years but the interesting part was when they said that I had 'probably' opted out of the state second pension and those funds must be invested somewhere??

I'm just interested to hear if anyone else has been approached and what your experience was like? It seems genuine and if they were able to highlight a 'lost pension pot' that would be good?

Apparently there's no obligation and it seems they just get a signed power of attorney from me (provided ready for me to sign) and they must then send it to all of the companies to find pension pots. I think they then want to help you do something with the lost pots that they find and therefore make their money that way???

Regards

redbuzzard

Alarm bells should be ringing. If they have contacted you unsolicited, and you are interested, then I suggest you say "no thank you" and do your own research from here.

They wouldn't need a power of attorney simply to get information either, and I wouldn't be giving one or even thinking about it.

gather all the details and write to or call the companies/admimnistrators where you have details.

Also look here https://www.gov.uk/find-lost-pension

dunstonh

Hello, I was recently contacted by a company called we find any pension dot com.

When you get pension cold calls, you should be on guard instantly. FCA does not allow cold calling on investments or investment products (which includes pensions)

The told me I had requested info from somewhere however, I have no recollection?

Almost certainly a lie to make out they are not cold calling you.

They say they offer 'free' and 'no obligation' advice about finding lost pension pots.

If it is free, how do they make their money? Why not just point you to the main database run by the Govt called the pension tracing service?

but the interesting part was when they said that I had 'probably' opted out of the state second pension and those funds must be invested somewhere??

Did you contract out of SERPs/S2P? Where are your annual statements going? It required an insurance agent, FA or IFA to do the work for that (rare to DIY that sort of thing). So, did you use on before? If so, why not contact them?

Apparently there's no obligation and it seems they just get a signed power of attorney from me (provided ready for me to sign) and they must then send it to all of the companies to find pension pots.

That would be highly expensive and most companies would not respond unless they were FCA regulated. Most likely they will use the Govt service.

I think they then want to help you do something with the lost pots that they find and therefore make their money that way???

Yes. Probably transfer you into some dodgy unregulated scheme that eats your pot.

frottles

Red and Dunstohn

Many thanks for that sobering smack around the head! You are both quite right and unusually, I was letting myself get suckered in. I checked with the FSA and they are not regulated by them so, I'll steer well clear.

Many thanks for the pointers re the governments own tracking service.

I will speak to the S2P people direct and see if I can fathom if i'm in/out or lost etc.

Thanks very much