Over four in five (81%) working-age adults have admitted that they don’t know where all of their pension pots are, Raindrop has revealed.

The pension-finding platform’s survey of 2,000 people found that 19% of UK adults who are not retired were confident they know where all their pension savings were, prompting "renewed concerns" for the firm.

The survey also revealed that 19% are "really concerned" that they don’t have enough saved for retirement. This figure jumps to 25% for those aged between 35 and 54, with Raindrop stating that they may have previously been focused on saving for a mortgage or children, but are now prioritising retirement savings.

Furthermore, 23% admitted they are worried they won’t be able to afford the lifestyle they want in retirement, while 16% of non-retirees believe that they will have to work for longer than they want to as they can’t afford to retire when they planned to.

Recent research by the Pension Policy Institute found that £31.1bn is estimated to be sitting in lost pension pots, with 3.3 million lost pots in the UK, averaging a value of nearly £9,500.

Co-founder and chief commercial officer at Raindrop, Vivan Shridharani, said: "Millions of savers have lost pension pots putting their retirements at risk.

"Due to financial pressures, people are forced to either delay their retirements or significantly alter the lifestyle they had planned yet there are still millions of pension pots sitting unclaimed. Locating all previous pension pots should be the first step savers take to boost their retirement incomes and maximise the value of the pots they’ve already built up.

"However, tracking down old pots is often incredibly complicated and time consuming. Savers desperately need a simple pension finding solution that locates lost pots, puts them in control of their retirement savings and boosts their future financial security."

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