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Martin Lewis warns about mistake costing ‘tens or hundreds of thousands of pounds’



Martin Lewis has warned people to check if they are in doubt about hold pensions.

The MoneySavingExpert said some people are not claiming “tens or even hundreds of thousands of pounds” because they have left a pension at a former employer.

Speaking on his ITV show, The Martin Lewis Money Show on Thursday, February 25, Martin said it was worth a call – and explained what to do.

He explained gov.uk has a pension tracing service.

“You put in your old employer’s details and it will tell you who to contact,” he said.

“It is worth doing because, staggering though it is, there are some people who lose track of pensions worth tens or even hundreds of thousands of pounds.

“If you are not sure, definitely worth checking it out.”

The question came in after the show had a pensions special last week.

Martin explained in the show that there are a couple of ways to withdraw money from your pension pot – but one method is likely to see you charged much more in tax.

He gave more information on how to deal with it on his website.

This week’s show is the 100th and it has been a major factor in saving people money.





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