It could be time to make contact with forgotten pensions
Much like the modern-day phenomenon of "ghosting" in dating, where someone ends contact without warning, pensions can similarly appear like that they have vanished from our lives. We often lose contact with them due to life's many transitions, whether that’s changing roles or moving away.
Thanks to auto-enrolment, and the fact that many of us are staying in jobs for less time than we used to, people can accumulate many pension pots during their careers. And if they’re forgotten about, they can easily become ‘ghost pensions’.
But don’t be spooked. Unlike someone who's broken contact without a word, these missing pension pots can be tracked down.
The importance of locating these missing pension pots is immense. Some of these pensions can have fairly large sums in them or collectively can make a real difference to your income during retirement. And if they have been lost for decades, investment growth is likely to have helped them grow materially.