Savers Could Lose Track Of £64B In Pensions, Study Says
By Irene Madongo (November 9, 2021, 2:31 PM GMT) -- People risk losing out on an estimated £64 billion ($87 billion) in savings because they have failed to update their contact details with pension providers, according to a retirement savings business.
PensionBee Ltd. research published on Monday said that only 37% of 250 people surveyed in October had updated their address with their pension business or businesses in advance of moving house. About 32% of respondents said they did not believe it mattered whether they tell their pension provider or providers that they have changed their address, as they expect to be located and contacted.
"This belief could be extremely detrimental...
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