Raindrop, a pension-finding platform, reported significant growth in 2024, recovering £251 million in lost pension pots, which represents a 61% increase from 2023. The platform has identified over 18,000 lost pots in 2024 alone, bringing the total found since its launch to 43,000. The company has partnered with prominent financial institutions like Monzo and Standard Life, enhancing access for nearly 35,000 savers. With a staggering £31.1 billion estimated in lost pensions across the UK, Raindrop aims to continue reuniting savers with their funds amid growing concerns about retirement savings.
With millions of savers having lost pension pots over their working life, we are proud to have recovered £251 million in missing pots during 2024 to empower them to take control of their retirement savings. However, this is just the tip of the iceberg, there are billions still sitting unclaimed and we will continue to work with some of the largest financial providers to reunite their customers with their lost pensions.
Raindrop announced a number of new partnerships over the last 12 months - now working with Monzo and Standard Life to enable their customers to access its pension-finding solution.
Recent research from the Pensions Policy Institute (PPI) revealed that £31.1 billion is estimated to be sitting in lost pension pots. There are almost 3.3 million lost pots in the UK, with an average value of nearly £9,500.
During 2024, Raindrop located over 18,000 lost pots for UK savers, with an average pot value of nearly £14,000, taking the total number of pots found to 43,000 since launch.
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