More than 839,000 people contacted the Pension Tracing Service in 2025 to locate lost pension savings.
This is according to Freedom of Information data from the Department for Work and Pensions, analysed by Raindrop. It found that 770,000 enquiries were made online and 66,000 via phone.
The Pensions Policy Institute suggests that around £31.1bn is in lost pension pots across the UK, spread across almost 3.3 million pots with an average value of around £9,500.
According to Raindrop, many savers have yet to be reunited with their pensions, with millions potentially unaware of existing savings. Meanwhile, efforts to improve visibility continue, with most pension providers required to connect to the Pensions Regulator’s dashboard by October 2026 ahead of its expected public launch, although delays and concerns over accuracy remain.
Raindrop, which works with providers such as Aegon, AJ Bell and Monzo, says it has traced more than £1bn in pensions since launch, including £675m in 2025 alone.
Raindrop co-founder & CCO Vivan Shridharani says: “Tracing lost pensions has long been a time-consuming and often fruitless process for savers – tools such as the Pension Tracing Service and those offered by financial providers play a vital role in empowering savers to track down lost pots. However, take-up amongst savers remains fairly low meaning billions remain in lost pots slowly eroding in value and putting their financial future at risk.
“We work with some of the UK’s largest pension providers to enable their customers to track down lost retirement savings – these tools are crucial in tackling the lost pots epidemic. Providers who don’t offer these solutions to customers may be at a competitive disadvantage as there is strong demand amongst savers for simple tools to reunite them with their pension savings.
“It can be challenging for providers to build pension-tracing tools from scratch, the most cost-effective and simplest approach can be leveraging the agility and innovation of fintechs to unlock customer access to new products and services whilst delivering enhanced value.”
