UK - The Mineworkers' Pension Scheme has joined forces with The Unclaimed Assets Register to track down 30,000 members who have not claimed entitlements.
The move comes at a time when many occupational schemes are looking to reduce member payouts in an effort to ease the financial strain on sponsors.
But the MPS – which has near £10bn in assets – says it is determined to give missing deferred members, some of whom go back to the 1960s, what they are owed.
MPS benefits manager Mike Furbank said the partnership would give the company access to UAR’s sophisticated Experian tracing technology.
He said: “The UAR will place these members’ details on their register so any person enquiring will be put in touch with the scheme.
“We will try very hard to find as many of these people as we can and we hope word will spread.”
The £9.8bn MPS is one of the largest funded occupational schemes in the UK.
It has 238,000 pensioners and 140,000 deferred members.
The UAR, a database of unclaimed money has more than four million records in its files.
Mining workers involved in a bitter strike in the mid-1980s may also be entitled to pension pay-outs.
The National Union of Mineworkers believes some workers, who were, it claims, unfairly dismissed, may be entitled to up to £20,000 in pension back pay.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).