Using the Unclaimed Assets Register

What Happened to the Unclaimed Assets Register?

The Unclaimed Assets Register was a paid search service that allowed people to look for financial assets they may have lost track of over the years. This included old pension policies, life insurance, dormant bank accounts, unit trusts, shares and lottery winnings that were never collected.

The register worked by holding records submitted by financial institutions about accounts and policies that had gone unclaimed. When someone paid for a search, the service checked their details against these records to identify potential matches.

However, Experian shut down the Unclaimed Assets Register in 2022. The service is no longer operational, meaning you cannot use it to trace forgotten money. If you come across old references to this service online, be aware that the information is outdated.

Despite the closure, the underlying problem remains. According to various industry estimates, substantial sums continue to sit in unclaimed assets across the UK. People lose track of money for all sorts of ordinary reasons. You might have moved house several times without updating your address with every provider. A relative may have taken out a life policy decades ago and the paperwork has since been lost. Workplace pensions from jobs held years ago can easily slip from memory.

The good news is that several free alternatives exist for tracing different types of assets. These services can help you search for forgotten money without paying a fee.

Unclaimed Money Tracer

Tell us what might be out there and we will map out the exact UK services to search, in the right order, to track down unclaimed money.

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Free Services for Tracing Lost Assets

For lost pensions, the Pension Tracing Service run by the government is free to use. You can access it through GOV.UK and it can help you find contact details for pension schemes you may have lost track of. This service is particularly useful for those who suspect they may have old workplace pensions from previous jobs. The service does not tell you whether you have a pension or how much it is worth, but it provides the contact information you need to make enquiries directly with the scheme.

For dormant bank accounts, the mylostaccount.org.uk service allows you to search across multiple banks and building societies without charge. This is a joint initiative between several banking industry bodies and covers most major UK banks. You fill in a single form with your details and any previous addresses, and participating institutions will check their records for matches.

If you hold National Savings products such as Premium Bonds or savings certificates and have lost the paperwork, NS&I has its own tracing service. You can contact them directly to check whether you have any holdings registered in your name.

For unclaimed life insurance policies, the Association of British Insurers provides guidance on how to trace policies when you are unsure which company held the cover. They can point you toward member insurers and explain the process for making enquiries. Some individual insurers also maintain their own search facilities for former policyholders.

Your situation may be slightly different. ask a question below ↓ and our editorial team will reply with our advice.

What to Do If Free Services Fall Short

The free tracing services work well when you have a reasonable idea of what you are looking for. They are less helpful when you need to search broadly across multiple asset types or when the trail has gone cold.

Since the Unclaimed Assets Register closed, no single service has fully replaced its function of searching across pensions, insurance, bank accounts and investments in one go. This means you may need to use several different services to conduct a thorough search.

Some specialist tracing agents and heir hunters offer paid services that search more extensively. These firms typically work on cases involving deceased estates or complex family situations where significant sums may be involved. Be cautious about the fees charged and check whether a firm is reputable before engaging their services. Some operate on a percentage basis, taking a cut of any money found, while others charge flat fees.

When pursuing any potential claim, you will need to prove your identity and your connection to the asset. This typically involves providing documentation such as birth certificates, proof of address, and evidence linking you to the original account holder if the asset belonged to a relative. The more paperwork you can gather in advance, the smoother the claims process tends to be.

Evaluate which approach best suits your circumstances before proceeding. If you have specific leads about a pension or bank account, the free services should be your first port of call. For more complex situations involving multiple potential assets or deceased relatives, professional assistance may prove worthwhile despite the cost.

The Next Step

Now that you have read through the advice above, you might want to put it into practice. Our Unclaimed Money Tracer lets you tell us what might be out there and we will map out the exact UK services to search, in the right order, to track down unclaimed money. Try it now →