Josh Cousens of Monimine writes:  “The perks of retirement should be made to be simple and stress-free, with the addition of financial security, but £400 million of UK pension savings is currently unclaimed. This money is owed to retiring British citizens and would inevitably make a positive impact on the lives of those who are owed the cash. You might not know it, but there is every chance that some of the missing money could belong to you.

How many jobs have you had throughout your working life? The average person will work in at least 11 jobs and if a pension policy has been taken out in each role, that could potentially mean 11 individual pension pots, each with retirement savings inside. This begins to explain why people can lose contact with their pensions, particularly the policies from their earlier working lives.

In many cases, the assets are simply forgotten about. After 40 years in employment, you can be forgiven for failing to recall the name of your first employer and if you even had a pension policy with them.

In a study conducted by Aegon, it was discovered that as many as one in five people have misplaced or lost connection with one or more of their pensions. This equates to 6.6 million people who may have hypothetically forfeited part of their retirement cash.

A separate research, conducted by One Family exposed that just 47% of pension savers knew who their current policy was held with. The same investigation noted that only 32% know how much they have saved.

Before digital developments and your records were kept online, any policies would have been sent to you in paperwork. With a lifetime of clutter, it can be simple to misplace some of your documentation and without a record, policies can subsequently slip from memory.  One factor that is out of your control, is if your pension provider or previous employer has shut down or merged with another business.

These reasonings all explain that if you have lost money, it is highly likely to be unintentional.

We can’t guarantee that you will be owed a surprise retirement top-up, but there is a chance that there could be assets owed to you. What Monimine can guarantee is that, if there are unclaimed funds owed to you, you can find out and reconnect with your money … for free.

By registering with Monimine, you will be able to give yourself a peace of mind by definitively establishing if all your finances are in place and you could even find out that you are owed a windfall!

Wouldn’t your retirement be improved, if you had the full contents of your pension to enjoy?”

Once you have this information you can find out what this means for your retirement by finding out exactly how much you can comfortably afford to spend for each year of your retirement using RetireEasy’s LifePlan, as well as try out different scenarios for your future by subscribing to LifePlan Premium.  It can also tell you whether you have the resources in place to be able to afford to retire at your chosen time…