Martin Lewis has issued a warning for anyone with savings accounts, pensions, or Premium Bonds they may have lost track of. Millions of unclaimed pension pots and billions of pounds in forgotten bank accounts are sitting in the UK, often because people changed jobs or addresses without updating their contact details.
Appearing on Good Morning Britain, the personal finance expert advised using online tools to track down lost assets. For pensions, he recommended the government's Pension Tracing Service at gov.uk, where users can enter an old employer or provider name to find current contact details.
For lost bank accounts, savings, or Premium Bonds, Lewis pointed to mylostaccount.org.uk, a free service set up by trade bodies. Users can tick multiple banks and building societies to check for dormant accounts. However, he noted that the service only covers accounts that have been inactive for a certain period.
Lewis also suggested using Gretel, a free service that performs a soft credit check to reconnect users with financial institutions. While less comprehensive, it is quicker and easier, working with registered companies to locate lost funds.
With the upcoming Budget potentially affecting savings, Lewis urged viewers to act now to reclaim any forgotten money.
