The Pension Tracing Service has launched a new website to assist people in finding their lost pension savings.

The Department for Work and Pensions (DWP) announced that the new website and service will provide an easy way for people to trace hard-earned savings.

Individuals can enter their former employers’ details into an online database followed by contact details for pension schemes that they may have paid into.

The website for the new service can be found here.

DWP has currently estimated £400 million in unclaimed pension savings, including money people previously saved for retirement.

The pension tracing service is a free service available to everyone, enabling people to search the database of more than 320,000 pension scheme administrators.

Minister for Pensions, Baroness Ros Altmann said:

“People have had on average 11 jobs during their working life which can mean that have as many work place pensions to keep track of.

“The new DWP online Pension Tracing Service helps reunite people with their lost pensions, giving details of providers to help people track them down.”