Lucinda Connell, Senior Solicitor with Major Family Law, North East and South East top divorce and family law specialists, comments: Family lawyers and members of the public alike will welcome the news that the the Pension Tracing Service has launched a new DWP website to help people more easily and quickly locate any lost pension savings.
It is estimated that there is currently £400 million in unclaimed pension savings. This is money people have previously saved for their retirement, and the new website should better help people to locate their retirement savings. Pension savings may, and often are, a key asset for consideration on divorce and this service will assist in ensuring that full information is to hand when considering the pension provision both parties to the marriage have respectively accrued.
If anyone thinks they may be missing out on any savings, they may wish to use the online service at www.gov.uk/find-pension-contact-details which is free of charge.