Raindrop has retrieved £251m in lost pension pots for customers in 2024, marking a 61% year-on-year increase from £156m in 2023.

Since the pension-finding platform’s launch in 2020, it has found over £460m in lost pension pots.

Last year, Raindrop located over 18,000 lost pots for UK savers, with an average pot value of almost £14,000. This took the total number of pots found to 43,000 since its launch.

The firm revealed that over four in five (81%) working-age adults admit they aren’t sure where all of their pension pots are, while 19% are "really concerned" that they don’t have enough for retirement.

Raindrop stated that it is "vital" that savers locate lost pots, with recent research from the Pensions Policy Institute revealing that £31.1bn is estimated to be sitting in lost pots.

Co-founder and chief commercial officer at Raindrop, Vivan Shridharani, said: "With millions of savers having lost pension pots over their working life, we are proud to have recovered £251m 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 lost pots.

"We’re investing in our engineering operations to extend our API and AI capabilities to meet increased customer demand for simple, pension-tracing technology that empowers savers and supports with pot consolidation."

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