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Pension tracing service will expand to meet demand
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Pension tracing service will expand to meet demand
A free service which helps people locate pension pots they have lost track of will triple its number of staff to meet record numbers of enquiries. The Pension Tracing Service will have its headcount tripled to 49 by April. Last year, the service was contacted 145,000 times - double the number of contacts it dealt with in 2010. It helps people to find providers of pensions they have lost contact with, often after switching jobs. Estimates by the National Association of Pension Funds suggest that there could be as many as 50 million dormant and lost pension pots by 2050. Pensions Minister Steve Webb said: "Whilst we have plans to help people combine their pension pots in future when they change jobs, there are still too many scattered and lost pensions.....Read more hereTags: None
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