UK pension savers have consolidated more than £250m in retirement savings through Aegon’s Mylo app since launching in September 2025.
Mylo enables pension scheme members to trace, track and combine lost or forgotten pension pots. More than 21,000 pots have been consolidated through the app, which has attracted over 166,000 registered users.
The app uses Raindrop’s tracing technology to support its ‘Find and Combine’ service, while members who already have their pension details can use a separate ‘Combine-only’ option.
Aegon said it continues to invest in Mylo’s tracing and consolidation capabilities as it looks to help more savers reconnect with and manage their retirement savings. The Pensions Policy Institute estimates that £31.1bn is currently held in lost pension pots.
Aegon commercial director of workplace Nick Roy says: ”The fact that more than £250 million has now been consolidated through Mylo shows the growing demand for simple, digital solutions that help people take control of their retirement savings. It’s encouraging to see so many scheme members actively reconnecting with pensions that may otherwise have remained forgotten, helping them build a clearer picture of their financial future.
“The rapid growth in Mylo’s user base and the level of engagement we’re seeing demonstrate the value of making pensions easier to find, understand and manage. As a business committed to the UK market for the long term, we continue to invest in innovative services that improve customer experiences and support better retirement outcomes.
“Reaching this milestone is a significant achievement, and another step in helping even more people engage with their pension savings and plan with greater confidence for retirement.”
Raindrop co-founder & CCO Vivan Shridharani says: “Solutions such as Mylo are critical to tackling the dormant pots issue and improve UK retirement outcomes. Mylo and Raindrop’s partnership enables customers to simply trace and consolidate pension pots providing greater control and engagement over savings.
“Customer adoption continues to surge demonstrating the strong demand for simple tools such as Mylo – this is a great example of how pension providers and fintechs can collaborate to empower savers.”