Lori Campbell

Bereaved families are advised to search paperwork, online records and old employment documents for forgotten bank accounts, savings, investments, insurance policies and pensions. The guidance follows National Savings and Investments’ plan to return £367 million to around 34,000 estates whose deceased customers’ savings were not properly traced. Families can use NS&I’s bereavement process, the Death Notification Service, Gretel, My Lost Account and the Government Pension Tracing Service, while providers typically require a death certificate and proof of authority such as probate documents. Assets found after an estate has been distributed may require the estate to be reopened, and maintaining an updated will and financial records can help prevent future losses.

Gen Z participation in investing has risen sharply, with many new investors choosing cryptocurrency, gold and individual shares rather than diversified funds or pensions. Research suggests pension ownership among the group has declined, potentially sacrificing employer contributions, tax relief and decades of compounding. Financial experts warn that speculative assets can be volatile and difficult to time, while delayed pension contributions can significantly reduce retirement savings. Younger investors are advised to clear expensive debt, build an emergency fund, contribute enough to secure their full workplace pension match, and limit speculative investments to a small portion of a diversified portfolio.