Research indicating that there are 3.3 million lost pension pots

The problem of small and lost pension pots has garnered significant attention in recent years, though many may not realize just how widespread the issue is.

According to recent research from the Pensions Policy Institute (PPI), the scale of lost pensions is substantial, as highlighted in their 2024 briefing note.

The PPI now estimates that there are 3.3 million lost pension pots, collectively containing £31.1 billion in assets. On average, each lost pot across all age groups holds about £9,470.

With ongoing initiatives such as the Pension Dashboards Program (PDP) and efforts to consolidate small pots, steps are being taken to address this issue. The consolidation work aims to merge pots with balances of less than £1,000, which, while the lowest priority in terms of lost pots, is considered a high priority for resolution by the PPI report.