It is not unusual for people to regularly move jobs and houses in their lifetime. This increases the risk of a pension being lost, through missing paperwork or details not being updated with providers.

The Department for Work and Pensions (DWP) has estimated that there will be 50 million dormant pensions by 2050, containing a staggering £757 billion in unclaimed savings. Most pension providers will not let you claim a pension beyond age 75, meaning you could lose this money.

Here are three steps to help you recover pots using the government's improved service:

• List all of the jobs you've had in the past by using old paperwork (payslips, P60s and employment contracts) to work out if you were paying into a pension
• Contact the Pension Tracing Service at www.gov.uk/find-pensioncontact-details to identify who the pension providers were
• Use their contact details to get in touch, including as much detail as you can (plan or scheme reference numbers, old correspondence addresses, etc).

Tracing your old pots can feel like a hassle but a couple of hours of tracing and combining forgotten pensions could be beneficial in later life.