Millions of pension savings at risk of being lost

Over £50 billion pounds in hard-earned pensions are at risk of being lost as workers change jobs more often and lose track of their multiple pension pots.

That is according to new research from the Centre for Economics and Business Research (CEBR), on behalf of PensionBee.

The report estimates that currently, at least 4.8 million pension pots are considered ‘lost’ in the UK and nearly 1 in 10 adults believe they could have lost a pension pot worth more than £10,000. With the total number of UK pension pots expected to rise by 130% by 2050 (from 105.8 million at present to 243 million), the number of lost pensions could skyrocket.

Aston spoke to Becky O’Connor, pensions expert at PensionBee.

Photo by Colin Watts on Unsplash