View more on these topics

Directgov helps in search for lost pensions

Directgov has set up a free pension tracing service aimed at people it believes are losing out on pension entitlements worth thousands of pounds.

The government body says its research shows over half of adults have no idea how much money they have built up in pension schemes simply because they have stopped keeping track of them.

It says the problem is likely to worsen due to the amount of times that people change jobs during their lifetime.

Fifteen per cent of people surveyed say the reason why they stopped keeping track of their pensions is because they do not believe they are worth much.

The tracing service can be found at www.direct.gov.uk and will have access to a database of over 200,000 occupational and personal pension schemes.

Directgov director of communications Tiffany St. James says: “Saving for the future is crucial but our research suggests that many UK adults are losing touch with their pensions and do not know how much money they have saved.

“The free pension tracing service on Directgov gives people an opportunity to trace lost pensions, enabling them to plan for their future.”

Recommended

Split heirs

When it a split trust appropriate in business protection?

Abbey £25k loan deal with 100% mortgage

Abbey is piloting a 100 per cent loan to value product, with the option of a £25,000 secured loan.However, brokers say the rate is not the most competitive in the market and Abbey’s two-year fixed-rate product only just beats Northern Rock’s Together product.London & Country mortgage specialist James Cotton says: “At 7.05 per cent for […]

Close Bros suspends specialist mortgage business

Close Brothers has suspended the operations of its specialist lender Close Mortgages.The investment bank said in its results this week that it had decided to suspend business temporarily in light of uneconomic returns available from the specialist mortgage sector.It launched the subsidiary in July 2006 and began by offering buy-to-let products exclusively via Close-owned broking […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment