Pensioners and pension savers are being urged to check all their pots as a staggering £31.1billion goes unclaimed. Stefani Williams from financial advisers Holden & Partners said Pensions Policy Institute figures show around 3.3 million pots are going unclaimed, worth an average of £9,470 each.

She explained that the average worker changes jobs every five years, often leaving a small pot behind each time, but the Government's free Pension Tracing Service can help find missing pots.

Stefani said: "Tracking down a lost pension can take a little time, but it can be worthwhile. It is still your money, even if it's no longer front of mind."

The service helps people find lost workplace or personal pensions as it searches a database of pension provider contact details.

You can search online or by phone using the name of a previous employer or pension provider.

The service won't tell you whether you have a pension or what its value is. Instead, it tells you the name of the pension provider.

Stefani went on to outline a number of things people can do to maximise their retirement income as Department for Work and Pensions figures show four in 10 people are not saving enough for the retirement they want.

She recommended regularly reviewing your pension, adding: "Pensions tend to reward attention over time. Leaving them unchecked can make things harder later on."

Holden & Partners' expert also recommended looking at whether or not your employer will match your own additional pension contributions.

Currently, the minimum contribution is 8% of a person's qualifying salary made up of 5% from the employee and 3% from the employer.

Stefani said for many people that may not be enough to meet their long-term goals.

She pointed to Standard Life figures showing that increasing contributions from 5% to 7% at the age of 22 could result in an extra £52,000 by retirement, adjusted for inflation.

The expert added: "If your employer offers to match additional contributions, it's often worth considering. It can be one of the more effective ways to increase long-term savings."

Stefani went on to highlight the value of checking your State Pension forecast.

The full new State Pension pays £241.30 a week from this month, around £12,500 a year. For many people, it forms part of their retirement income rather than covering it completely.

You also need 35 qualifying National Insurance years to receive the full amount so career breaks and self-employment can create gaps.

Stefani said: "Checking your State Pension forecast can be useful. It often highlights gaps that can be addressed relatively simply."

It is possible in some cases to pay voluntary National Insurance contributions to plug gaps. Certain conditions apply, such as only being able to pay for the past six years. This would mean that for gaps in the 2025-26 tax year, you have until April 5, 2032, to plug them.

Stefani also suggested reviewing how Inheritance Tax changes might affect you. Under Government plans, from April 6, 2027, unused Defined Contribution pensions will be included in your estate for Inheritance Tax purposes.

The Government estimates 10,500 estates will be affected, with the average liability rising by around £34,000.

Stefani said: "This is an area that is starting to come into focus. For those using pensions as part of longer-term estate planning, it's worth reviewing how this may affect their approach."

In her final piece of advice, Stefani urged people to review how their pension is invested. She said many people are placed into a default fund when they join a workplace pension and do not revisit that decision.

The expert added: "Over time, this may not remain aligned with their goals or risk tolerance."

Stefani continued: "Taking a few minutes to review how your pension is invested can be worthwhile. It's something that often gets less attention than it should."