A pension plan is a crucial part of retirement but if you worked for several employers in the past, you may have lost track of, forgotten or be unaware of plans at one or more of those employers. Our pension tracing service can help track down these plans and add funds to your retirement. You can get the most from our service by providing as much information as possible.
In this article you will discover more about:
- What a Pension Tracing Service Does
- Workplace vs. Personal Pensions
- How to Use a Pension Tracing Service
What a Pension Tracing Service Does:
A pension tracing service helps track down entitlements left with former employers or in old personal pension plans. Our Pension Service maintains a registry which includes addresses and contact information. For British citizens who expatriated to other countries or for citizens who’ve lost track of their pensions, these services are invaluable.
Our Pension Tracing Service vs. Private Pension Firms:
Our pension tracing service website is free. The service identifies the plan administrator and provides contact information. Even if you don’t have all of the providers contact information, it can trace pension plans.
A private pension tracing service operates much like the government programme. However, these firms offer additional services like making referrals to independent financial advisors, checking DWP tracing service forms for errors, explaining search results, or providing educational information about health and well-being. Some of these additional services are fee based so users need to check each company individually for its fees and whether the programme fits within their personal budget.
How to Use a Pension Tracing Service:
The pension tracing process has 5 simple steps. It starts with filling out a simple online form. Then we will speak to you; gather the relevant information and send out the completed forms for you to sign. We recommend collecting the following information:
- State plan type whether it was a workplace or personal pension plan.
- Give previous names for the employer or personal pension scheme.
- Name the kind of business the employer operated.
- Provide the addresses of employer or personal scheme plus any address changes
- Give the dates you belonged to the pension scheme
- For personal pension schemes, provide the bank, insurance company or building society involved in running the plan
After collecting the information and getting search results, the firm will contact each plan administrator and ask for pension details. Once we have obtained your pension info we will pass your information to one of our qualified adviser who will conduct a free pension review for you.
Retirees can also use our free pension tracing service to find forgotten pension information. Such services help ensure retirees uncover all pension entitlements and makes living out their later years easier.