Pensioners urged to check if they can claim part of £64 billion

As much as £64.7 billion is currently left unclaimed in lost pensions and investments. These unclaimed assets could come in the form of a bank account, pension, insurance policy, and premium bonds.

Due to the nature of lost assets, many people may be unaware that they have a significant amount of cash stashed away they can easily reclaim. Pensioners can also reclaim their lost assets on their own through a relatively simple process.

However, it's important to note that claims can only be effectively made on employer and private pensions, not state pensions.

Keeping track of your pension schemes is vital for anyone who may be interested in claiming pension benefits after they retired. Firstly, people are advertised to go through all of their old paperwork and contact the HR department at the previous employer.

HR should be able to tell you the details of your former workplace pension scheme.

However, in the event that doesn't work, you can also use the free Pension Tracing Service.

To use this, all you need is to enter your details and you should be able to find your workplace or personal pension schemes. It's important to note though that this service does not tell you if you have a pension or what its value is.

You can also contact the Pension Tracing Service on 0900 731 0193

The Pension Tracing Service will also allow you to check for any accounts under a deceased relative's details. The account provider will contact you to confirm your identity so that they can ensure that any unclaimed amount of money is given appropriately.

However, it's important that you're sure the account is actually classified as lost before claiming it. Results of a claim may also vary depending on if the deceased relative had a will and what