How The Pension Detectives Can Swell Your QROPS

If you are looking at consolidating your funds in to a QROPS, the pension detectives can help find any lost cash you may have in an old pension fund to swell your retirement coffers.

The pension detectives work for the Pension Tracing Service, part of the UK government’s Pension Service.

The service has a database of more than 200,000 pension schemes - all you have to do is tell them as much as you can about the schemes you belonged to in the past and they will do the detective work.

The database service is free, and you should receive a list of the current contact details of the pension trustees.

Next, you contact them and ask for your fund status and transfer value so you can give this information to QROPS Advisor so they can include any pension entitlement you might have in your QROPS scheme.

Many people contribute in to several pension schemes for a short time during their working life and do not consider consolidating all the funds in to their QROPS as an option.

It makes sense to switch as much money as you can in to your QROPS, and if you already have some small amounts across several schemes, consolidation may well save you charges and give better fund performance.

The more information you can give the pension detectives the better. They will want to know if your pensions are personal or company schemes.

For personal pensions, find out:

• The scheme name
• The address where the scheme was based
• Any bank, building society or insurance company involved with the pension

For company pensions - also called occupational pensions or works schemes - find out:

• Has your former employer traded under a different name or ceased trading?
• The type of business you worked for
• When you belonged to the scheme

Contacting us to organise an investigation.