Why trace a pension?
Every new job brings with it a new pension pot.
It can be easy to lose track of them, but there are good reasons to find old pensions.
You’ve done the hard work to earn your pension pot, so who is looking after it?
Check how your pensions are performing, are you on track for your retirement goals?
Know how your pensions are invested, does it match your values and goals?
Keep on top of charges and fees, are you getting value for money?
Find old pensions using the Freetrade app
Whether you know some details of your previous pensions or none at all, we’ll help you find lost pensions.
To start the process, first download the Freetrade app, then follow the in-app steps. Once we trace a pension, we’ll share all the details with you. You can then decide if transferring to Freetrade is a good idea for you.
We can help trace and transfer most pensions except pension schemes already in drawdown, defined benefit (DB) pension schemes and schemes that provide safeguarded benefits.
Before transferring your pension to Freetrade, make sure it is the right action for you to take. Some people speak to a financial advisor to help them make this decision. For more info, read our SIPP Key Features Document, SIPP Charges and SIPP transfer.
Combining old pensions
The Freetrade pension is a self-invested personal pension (SIPP), giving you the freedom to combine old pensions and start making your own investment decisions.
What can I invest in?
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Pension tracing FAQs
How much does the pension tracing service cost?
We offer a free pension tracing service, that you can access via the Freetrade app. To start tracing a pension, you will need to open a SIPP account first, but you won’t pay a SIPP subscription fee until you have made your first contribution into a pension or your transfer has been completed.
Which pensions can’t be traced?
Do you accept pensions that are already in drawdown?
No, at the moment we can’t accept pensions that are already in drawdown.
How long does it take to trace a pension?
When tracing a pension, many pension providers get back to us within a few weeks but some can take longer. It can take up to 12 weeks for us to receive information from a pension provider.
A member of our customer service team will keep you updated every step of the way. The more information you’re able to provide, the quicker the process can be.
How do I find out if I have a pension from a previous employer?
Most pension schemes must send you a statement each year, so looking for any old paperwork that might have the name of your employer or pension scheme, would be a good starting point.
If you can’t find any paperwork you could contact your former employer to check directly with them. You could also use our pension tracing process and we can check for you. We outline all these options in our guide on how to find old pensions.
What information do I need to trace my pensions?
Whether you know all the details about your previous pensions or not very many, we should be able to help.
If you don’t know the details of old pension providers, we’ll ask you to tell us who you worked for and when. We’ll then contact your previous employer to find out who your pension provider is.
Any details you might have on a pension like the pension provider name and address will help us trace a pension more quickly.
Please note that before we can start tracing any pensions we’ll ask you to sign a letter of agreement giving us permission to contact the pension providers on your behalf.
What happens after you trace my pensions?
First off, we’ll share the results of the pension tracing with you. We should be able to tell you who looks after your pension, how much is in there and what it is invested in.
At this point, we’ll ask if you’d like to transfer any pensions to Freetrade. If you would, we’ll ask you whether you want to make a full or partial transfer, cash or in-specie (where you stay invested).
Do I have to transfer my pension after tracing it?
Once we’ve helped you find old pensions, if you’re not ready or don’t want to transfer to Freetrade, you don’t have to. At this point, we will have shared the details of any pensions with you.
Have questions? Email us at firstname.lastname@example.org or reach out via in-app chat.
Learn more about pensions
SIPP is a pension product designed for people who want to make their own investment decisions. You can normally only access the money from age 55 (raising to 57 from 2028). Current rules can change, and tax relief depends on your personal circumstances.
When you invest, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest.
Before transferring a pension you should ensure that this is the right thing for you to do and in particular you will not lose valuable guarantees or incur excessive transfer penalties. Pensions are usually transferred as cash so you will be out of the market for a period and therefore there is a risk you may lose out on investment gains during this period.
Freetrade does not currently offer drawdown products and doesn’t accept employer contributions for our SIPP.
The fees displayed on this page do not include any fees which may be charged by product manufacturers (e.g. ETF management fees).
Get Freetrade SIPP on our Plus plan
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