Millions of UK pension pots remain unclaimed, averaging £6,000 each
Research by the Pensions Policy Institute shows that over three million UK pension pots, worth about £6,000 on average, are considered lost.
The Pensions Policy Institute, using data from pension providers, identified over three million UK pension pots as lost, meaning providers cannot contact the owners. About 2.5 million of these belong to individuals younger than 55, with average values of £5,250 for that group and roughly double (£10,710) for those aged 55 to 74. Gender differences show average lost amounts of £5,370 for women and £6,830 for men.
The research coincides with the upcoming National Pensions Tracing Day on October 25 and highlights the need for better tracking. The Money and Pensions Service plans to launch a MoneyHelper Pensions Dashboard in FY 2027-28 to give savers a single view of their pensions and flag forgotten accounts. Industry voices note that while the average pot may seem modest, it can materially boost retirement income, especially when combined with other savings.
Why it matters
Unclaimed pensions represent a hidden wealth gap that could affect millions of retirees' financial security.
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