By 31 October, pension schemes and providers covered by the rules must be connected to the government’s pensions dashboards system.
That’s an industry deadline, but it’s also a good prompt to find out exactly what pensions you hold.
What dashboards will do
Once live, a pensions dashboard will let you find and view most pensions you haven’t yet started drawing, alongside your State Pension. It’s view-only, so you can see what you have but not move or change anything. No public launch date has been confirmed, though the Pensions Dashboards Programme expects the MoneyHelper dashboard to open to the public during the 2027/28 financial year. However, you don’t need to wait until then to track down old pensions.
Why it is worth doing now
The Pensions Policy Institute’s latest estimate, from its 2024 survey, is that around 3.3 million pension pots were lost, worth about £31.1 billion in total. The average lost pot was £9,470, rising to £13,620 for people aged 55 to 75. Changing jobs repeatedly can make pensions easier to lose track of, especially if old providers no longer have your current address.
For higher earners, there’s a second reason. Under the Finance Act 2026, from 6 April 2027 most unused pension funds and death benefits will count towards your estate for inheritance tax, with some exclusions. You should still keep your nominations up to date, but they won’t change that, so knowing every pot you hold matters for estate planning too.
How to start
You don’t need a dashboard to begin. Gather your latest statements and list every employer you’ve worked for. If you can’t trace a pension, the government’s free Pension Tracing Service can give you contact details for an old scheme or provider. It can’t tell you whether a pension exists or what it’s worth, so your next step is to ask the scheme for an up-to-date statement.
Our view
Finding a pension doesn’t mean you should move it. Combining straightforward workplace pots can simplify things, but simplicity alone isn’t a reason to transfer.
Some older pensions carry guarantees that are hard to replace, such as set rates for turning your pot into income, protected tax-free cash, protected retirement ages, and final salary-style pensions that need particular care.
So before moving anything, compare the charges, investment options, guarantees and death benefits. Our advice is to trace first, assess second, and combine only where the numbers and benefits support it.
Talk to us
If you have pensions you’ve lost track of, or you’d like a clear view of how your pots fit together, we’d be happy to help you sort through them. Call 020 8366 4400 or email enquiries@cedarhfs.co.uk.
Pension and tax rules can change, and their effect depends on your circumstances. Transfers can mean losing valuable benefits. This is general information, not personal advice.