Estimates suggest that there is more than €400 million in unclaimed pension benefits in Ireland alone. Could you be due to cash in?
In many cases, particularly when we are early in our career, we don’t always pay attention to our payslips and where deductions from jobs might be going. Many employers automatically make pension deductions on our behalf and, where older jobs are concerned, these can be forgotten by the employee over time.
We very rarely take note of our pension details and keep documentation about them across jobs and decades. For that reason, many pension pots have been lost in the paperwork of our careers and remain unclaimed. However, they aren’t lost. You are entitled to the outcome of any pension payments you have made in any jobs and all you have to do is locate them. The following is an overview of the steps you need to follow to cash in or combine your pension pots.