Pension tracing enquiries soar

31 Mar 2014 | 08:31 am | 1 min. read

The number of people trying to trace lost pension pots has reached a four year high according to research by international law firm Pinsent Masons.

Research conducted by the firm has found that requests made to the Pensions Tracing Service (PTS) to assist in tracing lost pensions has risen from an average of 6,424 a month in 2010/11 to 11,785 in 2013/14 - an increase of 83%.

Carolyn Saunders, London Head of Pensions at Pinsent Masons said:

"The PTS is now helping over 100,000 people a year to trace their pensions.  While the vast majority of requests processed by the PTS are successful, these figures highlight  the burden created and brings into sharp focus  government proposals to introduce 'pot follows members' legislation whereby  pension schemes will automatically follow an employee when they change jobs. " 

"The days when people worked for the same company all their lives are long gone and new pension legislation is needed to reflect the UK's increasingly mobile workforce. People now hold several different jobs with different employers during their working lifetime. Over time they accumulate a number of different workplace pensions. It’s easily done to lose track of one or more of these pots, companies merging or being acquired, rebranding or failing to notify a provider of change of address can also make it difficult for former employees to locate their pensions. "

"The rise in PTS requests is good news and demonstrates that there is increased awareness of pension issues. With a record number of people facing inadequate retirement income* the need to keep track of your pension is greater than ever.

"The introduction of auto enrolment will go someway toward addressing the pension crisis facing the UK but until 'pot follows members' legislation comes into force in 2015 it will probably also lead to a further rise in PTS requests ."

It is thought that more than a million pensions worth £3bn have been abandoned in dormant accounts and the Government estimates that by 2050 there will be 50 million dormant accounts worth £757bn**.

It is therefore important that individuals seize the initiative themselves, not least because one in six people claim to have no idea where their pension is saved, according to the PTS.



Financial year


PTS requests to trace occupational and personal pensions

Average per month
























Key Contacts

Carolyn Saunders

Carolyn Saunders

Partner, Head of Office, London and Head of Pensions & Long-Term Savings

View Profile

Latest press releases

Show me all press releases

Pinsent Masons appoints Pamela McDonald as new head of its Doha office

Multinational law firm Pinsent Masons has named international arbitration partner Pamela McDonald as the new head of its Doha office.

Multiple wins for Pinsent Masons at China Business Law Awards 2022

Multinational law firm Pinsent Masons has won in seven categories at China Business Law Journal's annual awards.

Pinsent Masons advises Ørsted on its entry into the Spanish renewables market

Multinational law firm Pinsent Masons has advised Ørsted on its first four renewables’ partnerships in Spain.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises Nest pension scheme on infrastructure investment

Multinational law firm Pinsent Masons has advised Nest, the auto-enrolment pension scheme, on its appointment of GLIL Infrastructure to help further its goal of investing nearly £3bn into infrastructure equity by the end of the decade.

Pinsent Masons advises Just Group on its £340m buy-in deal with the Ibstock Pension Scheme

Multinational law firm Pinsent Masons has advised Just Group (Just) on its £340m bulk annuity transaction for over 1,800 pensioners of the Ibstock Pension Scheme, representing over half of the total pension liability in the scheme.

Pinsent Masons advises Redington on deal from Phoenix

International law firm, Pinsent Masons, has successfully advised the founders and management of Redington, the independent institutional investment consultant, on an investment deal from Phoenix Equity Partners, a leading UK mid-market private equity firm.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts