Forum Home» Pensions, Annuities & Retirement Planning

MSE News: Pension tracing service to shed light on long-lost savings – check online i

New Post Advanced Search
We are currently experiencing a high volume of spam and have increased the sensitivity of our spam filters. This could mean that genuine posts may get caught. If you believe this has happened to one of your posts, please email the Forum team on [email protected] As always, we are really grateful for your patience whilst we get this sorted - which we'll do as soon as possible.
Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.

MSE News: Pension tracing service to shed light on long-lost savings – check online i

21 replies 3.9K views
Legacy_userLegacy_user
0 posts
MoneySaving Newbie
Millions of people who’ve lost track of private pension savings can now be reunited with their hard-earned cash...
Read the full story:
'Pension tracing service to shed light on long-lost savings – check online if you've mislaid £1,000s'
OfficialStamp.gif
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
«13

Replies

  • dunstonhdunstonh Forumite
    103.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    How do you know it was hard earned?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • greenglidegreenglide Forumite
    3.3K posts
    Part of the Furniture Combo Breaker Hung up my suit!
    ✭✭✭✭
    But it doesn't really fit the need, does it?

    Two of my previous employers are not on the list. I know one of them went bankrupt many years ago and the other either went bankrupt or closed down. I know that I transferred my benefits out of their schemes many years ago and the benefits are now safely in the LGPS, so their is no worry, for me.

    What about people who didnt transfer out in the past?

    The tracing service out to let people know what schemes they had been a member of. HMRC has the information in NIRS2, why doesnt tracing use that, rather than just give the contact details for schemes?
  • PincherPincher
    6.6K posts
    ✭✭✭✭
    I have always wondered how on earth they expect you to have the original policy certificate after forty years. I have had my car broken into, my safe ripped out, and lost certificates of all sorts left right and centre.


    I had US$1,000 worth of American pension contribution.
    God knows whether they have been sending mail to the old address, and whether a letter from England is believable or not.


    Some poor sod taught in Kenya for years, so had a state teacher pension. He came back to England, carried on working for another twenty years or so. Comes retirement, he writes to Kenya, and they say sorry, no records of you. Obviously he tried to chase it, but they just ignored him.


    We should have a blood DNA ID record with every policy, so you don't have some interloper claiming to be me and getting the lost pension. I can just send a vial of blood, and they will have to release the money, after 30 years.
  • dunstonhdunstonh Forumite
    103.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    I have always wondered how on earth they expect you to have the original policy certificate after forty years. I have had my car broken into, my safe ripped out, and lost certificates of all sorts left right and centre.

    Up until the mid 90s, that was the expectation. However, nowadays, there are only a handful that still ask for the policy document. Even then they have a form to get around it. Most use account number style basis nowadays.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • cheesetoastcheesetoast Forumite
    258 posts
    Fourth Anniversary
    ✭✭
    The article makes it sound like you put in your NI number and it spits out a list of pensions you've got, rather than you having to search by hand.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • venisonvenison Forumite
    4.9K posts
    1,000 Posts Fourth Anniversary Name Dropper I've been Money Tipped!
    ✭✭✭✭
    I'd paid into a pension many years ago that had gone through many changes I used the tracing service and was gob smacked to find it was worth £12k
    Boycott the right wing press !
  • greenglidegreenglide Forumite
    3.3K posts
    Part of the Furniture Combo Breaker Hung up my suit!
    ✭✭✭✭
    The article makes it sound like you put in your NI number and it spits out a list of pensions you've got, rather than you having to search by hand.
    That is precisely what is needed and precisely what it doesn't do!


    HMRC holds a lot of the required information in the NPS (used to be NIRS2 ) system but there doesn't appear to be an easy way to find out.
  • buglawtonbuglawton Forumite
    9.2K posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    HMRC probably thought about making the service more in depth, but that could give fraudsters an 'in'. Even so, the MSE article gives a misleading impression.
  • gadgetmindgadgetmind Forumite
    11.1K posts
    Tenth Anniversary 10,000 Posts Combo Breaker
    ✭✭✭✭✭
    They could stick it on their shiny new pension gateway, which is so secure many people struggle to access it.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • PincherPincher
    6.6K posts
    ✭✭✭✭
    gadgetmind wrote: »
    They could stick it on their shiny new pension gateway, which is so secure many people struggle to access it.


    What Pension Gateway?


    URL?


    Maybe I have to be the right age, otherwise I can't get into Diagon Alley.


    Got a GOV.UK Verify account. Self-Assessment only, I expect, despite the claim:


    "Verify your identity and get access to GOV.UK services as quickly as possible."
This discussion has been closed.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support