Millions of people are at risk of missing out on retirement savings because they have lost track of their pension pots, Standard Life has warned.
Research from the company found a quarter of UK adults do not know who their current pension provider is.
The same amount were also unaware that moving jobs could result in multiple pension pots.
While consolidation could be a solution for keeping track of multiple pots, the research also found 60 per cent had never combined their workplace pensions.
Mike Ambery, retirement and savings director at Standard Life, part of Phoenix Group, said: “Millions of people risk losing out on valuable retirement savings simply because they’ve lost track of their pensions.
“With multiple job moves now the norm, it’s easy for pots to slip through the cracks. While tracking pots down may seem like a hard task, there are simple steps you can take to get your pots in order.”
Ambery said keeping a record of pensions just to know where pensions are could make a real difference.
He added: “Each individual pot might not seem significant on its own, but together they can add up to a substantial boost to your retirement income.
“By finding and managing lost pots, people could significantly improve their retirement lifestyle and make sure no hard-earned savings go to waste.”
Despite the potential value of lost pensions, two-thirds of those who have not consolidated their savings have never tried to track them down.
And while 27 per cent say they intend to, 39 per cent have no plans to do so.
tara.o’connor@ft.com