Londoners are sitting on a small fortune. They just don’t know it yet.
An estimated £89 billion is lying in lost or forgotten accounts across the UK. A sizeable slice of that belongs to people who have lived and worked in the capital, often through multiple jobs, multiple addresses and, in many cases, multiple pension schemes.
Now the financial services industry is joining forces to help readers track it down. A new national campaign, Billions 4 Millions, has launched with a bold target: return £1 billion of lost or unclaimed money to consumers by the end of 2026.
For a city like London, the issue is acute. The capital has one of the most mobile workforces in Europe. Many professionals have changed jobs every few years. Auto-enrolment has created millions of small pension pots.
Since January alone, firms involved in the campaign say more than £180 million has already been reunited with customers. Industry leaders argue that coordinated action can accelerate that process.
Help finding your money
The initiative is convened by Gretel, a free platform that helps people search for missing financial accounts. But this is not a solo effort. Major names across insurance, pensions and asset management have signed up.
Founding participants include Aviva, Phoenix Group, Foresters Financial, J.P. Morgan Asset Management, Janus Henderson Investors and Rathbones. Others are expected to follow.
Phoenix Group’s chief executive Andy Briggs says “Too many people are unaware of savings that rightfully belong to them, and at a time when financial resilience matters more than ever, that’s something our industry has a responsibility to address. As one of the UK’s largest long-term savings and retirement businesses, we recognise the role we can play in improving outcomes not just for our customers, but for society more broadly.
If you have worked for several employers; lived at multiple London addresses or opened savings products years ago and forgotten them, there is a real chance money is waiting for you.
The sums may not always be dramatic. But even modest pension pots can compound over time. In a city where retirement planning often competes with high housing costs and daily living expenses, reclaiming lost savings could prove meaningful.
Duncan Stevens, founder of Gretel,
“Lost or forgotten money is far more common than people realise, and many assume that if they’ve lost track of it, it’s gone for good
“In reality, the money is still there, and financial providers are keen to reunite it with its rightful owner. Billions 4 Millions is about making it easier for people to reconnect with what is rightfully theirs and helping households access money that can make a real difference, particularly at a time when many are under financial pressure.”
Aviva’s customer reconnections team says recovering lost policies and pensions is one of the most practical ways firms can build trust. This campaign, they say, brings scale and visibility.
The campaign will run through 2026, with firms sharing progress and pushing a single question into the public consciousness, ‘could some of my money be missing?’ It’s worth checking.
