Insurers Estimate £19.4B In Unclaimed Pension Savings

Law360, London (May 5, 2020, 1:00 PM BST) -- Almost £20 billion ($25 billion) of lost pensions could be floating around in unclaimed pots because Britons fail to let their pension funds know when they move home, British insurers said Tuesday.

The Association of British Insurers has found that savers rarely let their pension providers know when they change addresses. As a result, approximately 1.6 million pension pots worth £19.4 billion are lying forgotten and unclaimed — the equivalent of nearly £13,000 in each account.

The ABI said it is trying to help people find their lost savings during the COVID-19 crisis.

"During the lockdown many of us have been focussing...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Companies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!