Responding to the ABI’s research that the UK’s lost pension mountain could be worth £20 billion, David Woollett, Customer Director at Phoenix Life says:

“Policyholders have diligently saved for many years in their policies, and it is a tragedy that the benefits may have been left unclaimed. Since 2016 we at Phoenix have undertaken a programme of extensive tracing work and have reunited 2,380 unclaimed policies, to a value of almost £13million, with their rightful owner or next of kin.

“Keeping personal information up to date with any financial service provider would ensure that customers don’t miss any communications and would ease the processing of claims in retirement or maturity”.

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Enquiries

Shellie Wells
Head of Corporate Communications
Phoenix Group
020 3735 0922 / 07872 414 137
shellie.wells@thephoenixgroup.com

Darcy Lillie
Media Relations Consultant
Phoenix Group
020 3735 0102 / 07814 773 280
darcy.lillie@thephoenixgroup.com

Notes to editors

Phoenix Group is a European life consolidator, specialising in the acquisition and management of closed life insurance and pension funds – known as heritage books. Phoenix is the largest consolidator of heritage life insurance books in Europe but also runs an open book underpinned by a strategic partnership with Standard Life Aberdeen. The Group is a member of the FTSE 250 index, and has over 10.4 million policyholders and £240 billion of assets under management – including the recently acquired Standard Life Assurance business. With operations in the United Kingdom, Ireland and Germany, the Group has five operating life companies which hold policyholder assets, and a distribution business, SunLife Limited.