NEWS
Travel Weekly is extending its personal and business information content by teaming up with financial advisor David Croft for a regular column offering answers to readers’ questions about personal finance. In this column, David, who previously worked in the travel industry, suggests a simple way to save some money.
We had a terrific response to our column last month on taking control of the controllables, and I was so pleased to hear about the savings made just by re-evaluating some of those ‘sleeper costs’ from your monthlies. Continuing in that fashion, this time I want
'DYLG &URƏW FINANCIAL ADVISOR
Track down your old pensions – your future self will thank you
to talk about something I discuss with clients on a daily basis: locating your old pensions. Imagine if £1,000 fell out of your pocket – you’d
probably notice? You’d retrace your steps and do whatever you could to find it. Yet with an old pension that may be worth even more, things are often different. According to the Department for Work and Pensions, there are roughly 23 million deferred pension pots worth less than £10,000, representing around £39 billion in assets. Of those, around 13 million are worth less than £1,000. Could any of these be yours? If you paid into a workplace
pension, your employer may have paid in too. That pot is likely still invested and may have grown, but it may also carry charges, investment choices or valuable features you have forgotten, or never properly understood. That is why it is worth not only tracking down old pensions but also doing a pension tidy-up. This is your money, after all, so bring it into your eyeline.
employment contracts and bank statements can all help. You don’t need much: just the employer name, pension provider, scheme name, or any policy or membership reference. If the company still exists, contact HR or payroll.
They may not confirm everything straight away, but they should be able to tell you which provider was used at the time. Former colleagues can be useful too – someone may remember, especially if they have already gone through the same process. You can also use the government’s Pension
FINANCE
Tracing Service. It’s free and can help you find contact details for a workplace or personal pension scheme. Note that it does not tell you whether you have a pension or what it is worth – it simply gives you the contact details so you can speak to the provider directly. When contacting a provider, be
Q&A
ready with your National Insurance number, previous addresses, previous names, dates of employment and any old reference numbers. The more information you have, the easier
it will be to match you to the right record.
Start tracking So where to begin? Write down all the jobs you have had – this will take longer for some than others. Think about part-time jobs, early career roles, old branches, overseas seasons and roles you may not immediately associate with a pension. It is worth checking anything since auto- enrolment began rolling out in October 2012. Then look for proof. Old payslips, P60s, pension statements, joining letters, HR emails,
Q Emily Man Wealth Management is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website:
sjp.co.uk/products
14 25 JUNE 2026
Consider consolidating Once found, the next question is what to do with it. In some cases, it makes sense to leave a pension where it is; in others, consolidating makes things easier to manage. There is no one correct answer. Before moving a pension, understand the charges, performance, investment choices, retirement options, guarantees, penalties and whether any benefits could be lost. This is where professional advice may help. The worst option is to do nothing. The sense
of control you’ll gain from knowing exactly what you have in place for retirement will be enormous. So start with a list of your old employers and see if anything is missing. You’ll be halfway there.
Q ASK DAVID A QUESTION Q
David is a UK-based financial advisor with Emily Man Wealth Management, specialising in helping people in the travel industry take control of their money. After a 15-year career in travel, he retrained as an advisor and now focuses on clear, jargon-free financial planning for individuals and teams. If you have any questions relating to tax, long-term financial wellbeing, retirement or other financial matters that you would like answered, email
robin.murray@
travelweekly.co.uk with the subject: Question for David.
travelweekly.co.uk
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
