Standard Life has partnered with Raindrop and launched a free-to-all pension-finding tool to help Britons track down their missing pensions.

This comes as Standard Life research has shown that 19% of people with multiple pensions believe they have lost track of at least one pension pot.

Standard Life, part of Phoenix Group, said that despite the benefits of consolidating pensions, such as a greater ability to track performance and boost understanding of how much is being saved for the future, 73% of those with more than one workplace pension said they have not consolidated.

Just under a third (32%) are unsure of how to start consolidating and 12% find the process too difficult.

It has been estimated that 2.8 million pension pots in the UK, valued at over £26.6bn, remain unclaimed. Additionally, the average person has at least 11 employers in their working lifetime.

In order to find a lost pension, a user just needs to provide their former employer’s name and the time period they worked for the company. This is in contrast to supplying details of the pension provider “as is often the case when consolidating pension pots”.

Raindrop’s technology then begins the tracing process, which on average takes just 4-6 weeks. During this time, a dedicated case manager is on-hand to provide updates on the process.

Once a person’s lost pensions have been traced, they will be better informed about their income prospects and able to take the necessary steps to prepare for their retirement.

Standard Life managing director of retail direct Dean Butler said: “We know that people who actively plan for their retirement are more confident and financially secure but if you don’t know where all your savings are, you can’t begin to calculate their value, making planning unnecessarily difficult.

“Sometimes people have a vague idea of having a pension with a previous employer, but just don’t know how to go about finding it. Our new pension-finding service removes the major hurdles that people face and allows them to regain control of their pensions savings. We want to help them trace any missing pensions, so they don’t ever lose them again and are better prepared to organise their retirement savings.”

Raindrop co-founder Vivan Shridharani added: “Millions of UK savers have lost pensions, often unsure of how to begin their search. As each new generation has more jobs than the last, the number of lost pensions continues to grow. We’re committed to helping savers, with a simple solution to easily find their lost pensions and help them better prepare for their financial future.

“By partnering with Standard Life, one of the UK’s largest pensions providers, we hope to empower savers to locate lost pots and take control of their long-term financial planning.”

Since the launch of Raindrop, a pension-finding platform, in 2021, it has located over £325m in lost pension savings across more than 27,000 pots.

In order to obtain these results, Standard Life commissioned Opinium to conduct research among 2,000 UK adults between 6 and 10 September 2024.

MILLIONS will see their energy bill rise by £149 as Ofgem’s new price cap comes into force today, Tuesday, October 1.

Households previously paid £1,568 a year but the figure is now set to rise by nearly £150 to £1,717.

Around 29million customers on their energy providers’ standard variable tariff (SVT) are expected to see their bills rise.

Ofgem updates its price cap every three months, setting a ceiling on how much suppliers can charge for each unit of gas or electricity.

It was created five years ago to protect customers from being overcharged by suppliers.

This includes your standing charge which is a daily fixed amount you have to pay no matter how much electricity you use.

But it is worth bearing in mind that the £1,717 figure is just an estimation given by the energy regulator.

It is calculated assuming that a typical household uses 2,700 kWh of electricity and 11,500 kWh of gas over a 12-month period.

Those who use less electricity will pay less, while those who use more will have to pay more.

The exact amount you pay is based on several factors, including where you live, your supplier and how you pay for your gas and electricity.

There are 14 different “Distribution Network Operators” across Britain, who can dictate your energy costs.

For example, those in Northern Scotland will see their bills rise to £1724.47 up from £1577.66 starting today.

While households in North West of England will see their bills increase to £1,689 up from £1,533.

Those in the South West will pay the most, with the average annual bill costing £100 more at £1,766 a year.

These varying prices occur because generating gas or energy is cheaper in some areas than others.

Your regional standing charge, which is how much you pay to stay connected to the grid, also varies depending on where you live.

For example, those living in the northern region (North East England) pay the highest standing charge in the country.

A typical household here will now be charged £379 as of today.

While prices are expected to be high for the next three months, experts are predicting a fall come January.

Cornwall Insight has published a new forecast predicting a £20 drop in the new year to £1,697.

Dr Craig Lowrey, principal consultant at Cornwall Insight said October’s rise is a “temporary blip”.

He said: “Typically some of the coldest months of the year, often bring with them the biggest energy bills, and – while our latest forecast is welcome news – it remains subject to the volatile wholesale gas and electricity markets.”

Why you could be charged more

If you are worried about the price of the regional standing charge in your area, it is worth being aware of these tips.

For example, taking regular meter readings can let you update your supplier on your energy usage so you are not overcharged.

It is important to take a meter reading around the time of the price cap change to make sure all your energy usage up until that point is charged at the lower rate.

If you are confused about how to take a meter reading you can read our article here.

If you have a smart meter then you do not need to take a reading as this does it automatically.

You should contact your supplier if you are keen to install one as it is usually done free of charge.

There are also a number of government support packages available to those who are struggling financially.

The Sun recently published an article on all the bill help worth over £5,000 which you can check out here.

Make sure you pay the lowest rates

There are two types of rates that you can pay on your energy bill, fixed or a standard variable rate.

A fix is when you lock in a set price for a certain period which is usually 12 months.

That is different to a standard variable rate which can go up or down depending on Ofgem’s price cap, which changes every three months.

A number of energy suppliers have reduced the rate of their fixed deals, meaning customers have a chance to save if they switch.

For example, EDF has launched a 1,568-a-year fixed deal for a typical energy user paying by direct debit.

This deal is £149 cheaper than the upcoming cap.

It is worth bearing in mind that you will still be charged more if you use more energy.

You check out the best fix rate deals below:

With rising interest rates and inflation driving a resurgence in cash, financial advisers are increasingly recognising its importance within client portfolios.

As Claire Jones, head of strategic relationships and new business at Flagstone, points out, 66% of advisers now guide their clients’ cash decisions. They are also adapting their processes, using platforms such as Flagstone, to optimise returns on cash savings while mitigating risks like inflation erosion and limited FSCS protection.

Claire Jones will be speaking at Money Marketing Interactive London on Tuesday 8 October.

What is behind the resurgence in cash? Why are more planners now advising on it than three years ago?

Sixty-six per cent of financial advisers and wealth managers now guide their clients’ cash decisions*. One of the main reasons is due to sustained high rates. Since 2022, increasing inflation has pushed the base rate from around 0.1% in 2021 to 5% today – 50x higher. This surge has also impacted savings, with 12-month fixed-term interest rates jumping from an average of 0.96% in December 2021 to nearly 5% now.

As a result, advisers recognise cash as a valuable asset class. Ninety per cent of advisers say the ability to access cash for emergency and short-term use is appealing to their clients, as well as 85% of advisers saying volatility in investment portfolios is a major driver.

How are you seeing advisers adjust their processes in light of the cash comeback?

Advisers are increasingly incorporating cash into their clients’ portfolios, recognising its potential to deliver meaningful returns. They’re also helping clients overcome the inertia around cash savings by using platforms like Flagstone, which simplifies managing cash by offering access to multiple savings accounts with a single application.

Additionally, advisers are seeing cash as a key part of a balanced portfolio, offering both attractive interest rates and protection under schemes like the FSCS.

What are the key opportunities for advisers and their clients when it comes to cash in the current market?

Advisers can help clients make the most of high interest rates by moving them out of low-yield accounts into market-leading, higher-paying options. Platforms like Flagstone make it easy to access exclusive rates, get the best return on their cash savings, and manage multiple accounts seamlessly.

of household wealth held in cash, especially among those nearing retirement, advisers have the ideal opportunity to integrate cash into a diverse portfolio that balances return and risk. In order to take a holistic approach to their clients’ wealth, advisers must consider cash.

What are the main risks of neglecting cash?

One of the biggest risks is inertia. Clients may leave funds in low-interest accounts, missing out on better returns. In the UK, over £1trn sits in easy-access accounts, often earning little to no interest. Neglecting cash can also expose clients to unnecessary risk if they hold more than £85,000 in one bank, meaning they miss out on full FSCS protection.

Additionally, if clients aren’t proactive in managing their cash to take advantage of current interest rates, inflation could erode their savings, leaving them with disappointing .

*From Flagstone’s latest survey of 100 independent financial advisers and wealth managers in the UK

THOUSANDS of Brits are facing concerns about how to keep warm this winter – but with the right kit, they won’t even need to turn the heating on.

Shoppers are rushing to B&M to buy its bargain heated gadgets which will keep them toasty for as cheap as £12.

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The new range of cosy products boasts a Restore massaging foot warmer (£20) and rechargeable hot water bottle (£15).

There are also multiple heated products from Naeo, including a body cushion (£12), lumber belt (£20), neck vibrator (£12) and slippers (£29).

The new range comes just in time for October 1, as the new energy price cap is implemented and bills begin to peak this winter.

The new energy price cap, which limits the amount that can be charged, will be around 10% higher than the current level which has been in place since July.

Ofgem, which sets the limit, revealed that bills will rise this month from an average of £1,568 to £1,717.

This means the average household paying by direct debt for dual fuel (electricity and gas) will see their annual bill go up by £149, or around £12 a month.

Therefore it’s a great idea to find alternative ways of keeping yourself warm, before heating your home.

By heating yourself instead of your home, you could save £100s off your energy bill – for example, electric blankets cost as little as 3p an hour.

These products are effective in the same way, and if battery powered, costs 0p to run – besides the cost of the batteries, which cost £8 for 12 on Amazon.

Let’s say that’s 2 batteries a month, you’ll be spending £1.30 a month on heating where the average household pays £400-500 a month (according to Plumr.com).

The shoes, and neck and waist warmers, also mean you can keep warm all over your body, while on the move around the house.

The range is not yet visible on the B&M website, but is available to hunt down in store.

This is according to B&M who posted images of the new cosy products on Facebook and said: “Everything I’ve ever need and more! Cosy season, we’re ready for you!”

Others commented: “I need these!” and “This will be a good idea for Nan”.

Heated items could also be a great tool for pensioners this colder season, who have had their Winter Fuel allowances stripped from them in new cuts by the new Labour government.

Following Chancellor Rachel Reeves‘ announcement of a £22bn black hole in public finances, winter fuel payments will now only go to pensioners who are receiving pension credit or any other means-tested benefit.

By spending £20 on a Restore massaging foot warmer, and £12 on a body cushion, a pensioner could be sufficiently heated for the evening, spending a one off payment of £32 but saving £100s over the winter.

However, it is also important to note that the elderly should not avoid turning the heating on if they are cold – for energy help contact your provider or local council, or read our article here.

To find your nearest B&M store, visit the website and use the Store Locator tool.

Products vary site to site, and as the items are brand new, they may not have hit your local yet.

Naeo neck vibrator – £12

The vibrating neck wrap is the cheapest item of the range, costing only £12 and coming with a lavender and sea salt eye mask.

On the box it is described to be “weighted for comfort” with “comfortable fabric” and “relaxing vibration”.

The item is not heated, but great for relaxation when paired with the other products on this list.

The product is battery-powered so you simply place the product around your neck and turn it on.

Similar items are retailing in John Lewis and Argos, such as the Dreamland Neck vibrator which costs £59.

A William Morris at Home lavender eye mask also costs £14, meaning the B&M punter saves spending £61 with their singular purchase.

Naeo heated cushion – £12

Shoppers are also going crazy for the £12 heated body cushion, which can also serve as a hand warmer.

The product is also battery-powered so requires just a simple installation and to be turned on.

Reusable hand warmers cost as much as £20 in Boots, and heated cushions £100 – meaning you could be saving £88 on this one item.

Restore rechargeable hot water bottle – £15

What makes this water bottle different to others is its smart charging port, which allows it to be ready to turn on whenever you need it.

It is ready to use in just under 25 minutes, and has automatic temperature control to prevent it getting too hot.

With the Restore rechargeable hot water bottle for £15, you could be making a save of up to £17, with Argos selling a similar product for £32 – double the price.

Other places which sell electric heat pads include Currys and Electrical World, for prices of £24 to £35.

Restore massaging foot warmer – £20

For £20, the Restore massaging foot warmer can keep you cosy and relaxed for bargain price.

You simply plug the warmer in and turn it on, put your feet inside and wait for it to heat up.

This is compared to the Well Being heated foot massager in Sports Direct, which costs £32.

Similar products are also selling fast on Amazon for £40, meaning you’re beating the crowd with a 50% save.

Naeo lumber belt – £20

Heated lumber belts are often pretty pricey to get your hands on.

The battery powered belt wraps around your waist and warms your lower back and stomach.

The John Lewis Dreamland Revive Me belt is selling for £48.53, and on Amazon, as much as £49.99.

This means almost a £30 save on the Naeo product.

Naeo heated slippers – £29

The slightly pricier B&M heated slippers are £29, but compared to other retailers, it’s a steal.

These work via battery-power, meaning you can use them again and again.

On Amazon, the Heated Slippers Amiable Foot Warmer is selling for £59.

However, in The Range, you can secure USB Electric Heated Plush slippers for £13 – though this means you can’t wear them walking around the house.

B&M’s Naeo product is battery operated, with “anti-slip soles” and “smooth heating”, so you can keep warm while doing everything you usually get done at home.

Other retailers which sell affordable home heating appliances include Dunelm and The Range

Dunelm is selling a Cream Borg Heatable Foot Warmer for £15 – though keep in mind this does not include delivery charges if you are ordering online.

The Range is also selling a larger Cosy Heat Portable Heater for £24, which can be lied on to keep you extra warm.

Electric blankets are also a great option, and can be found on Wowcher for the low price of £19.99.

As always, we recommend you compare prices by going to retailer websites such as B&M and and choosing the “sort by” tool – you can then browse the “cheapest items first”.

Or for a more specific search look up in the search bar “heated appliances”.

Some energy support funds are also offering free electric blankets to customers who are struggling this winter.

OVO and Octopus Energy are both suppliers who have aimed at “heating the human, not the home”.

Octopus have said they will distribute 20,000 electric blankets from Dreamland to its most vulnerable customers, keeping them warm for “as little as 3p an hour”.

While OVO Energy has launched a £50 million Extra Support Package which includes complimentary energy-conserving items.

Electric blankets are also sometimes available from your council under the Household Support Fund, which renews a fresh pot of £421 million today.

To find out if this is available with your supplier or council, and whether you are eligible, go to their websites and read the terms and conditions of the scheme.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

Financial services is set for a seismic shift, as the ‘great adviser retirement’ gets closer.

Recent research from the Financial Conduct Authority revealed the number of younger advisers has fallen in the past 18 months, while the number of advisers aged over 60 has grown nearly 30%.

To ensure a smooth transition for clients, advice firms must think carefully about succession planning.

Without the right structure in place to give clients the needed reassurance, they risk losing credibility – or, worse, business.

The drivers

There are several catalysts driving advisers into early retirement, including increased regulation, emerging technologies and market volatility.

The regulatory landscape’s rapid evolution is perhaps the most pressing.

Over a year on from Consumer Duty coming into effect, there is growing recognition the regulation will require a real ongoing effort – a burden that has prompted some advisers to rethink their futures in the industry.

The number of younger advisers has fallen in the past 18 months, while the number of advisers aged over 60 has grown nearly 30%

The ever-growing demand for hyper-personalisation across the wealth management experience is also fueling this trend, particularly as we continue to see wealth transfer between generations.

Coupled with market volatility, inflationary pressures, high interest rates and geopolitical tensions, advisers are faced with challenges in how they interact with and support clients – all while delivering outcomes that meet their financial goals.

Investment flexibility will be a cornerstone for meeting the diverse needs of all generations, and technology will be key to delivering that. As advisers evaluate their value propositions for the future, considerations for scaling their businesses should be at the forefront.

The solutions

As firms plan to get ahead of the great retirement, there are two key factors to consider: talent and business strategies.

First, attracting new talent should be an industry-wide focus. Many advice firms are leveraging new technologies to attract new recruits and establish training and development schemes to ensure they’re equipped with the skills and knowledge to pursue a career in advice.

Firms looking to solve the needs of the future generation of investors and advisers must act now

Secondly, as balancing client needs with business needs has become increasingly difficult, advisers must look to solutions that can help them drive their strategic growth agendas.

Building a digital-led solution will not only remove the need for manual administration but enable the modern adviser to engage with clients in a personalised and dynamic way.

Elsewhere, while the adviser-as-a-platform solution has been much discussed, the adviser-as-DFM is increasingly being considered. Obtaining permissions and launching a discretionary investment management business can enable better client and adviser experiences – and better client and business outcomes.

Owning a DFM can help improve alignment across clients’ needs and investment advice by giving advisers more control over their advice implementation, while also providing increased flexibility around charging structures.

Without the right structure in place to give clients the needed reassurance, they risk losing credibility – or, worse, business

Consent to make tactical changes to client portfolios may not be required, improving efficiency. In addition to potentially boosting enterprise value and the potential sale prices of advisers’ businesses, launching a DFM can create new revenue streams that provide capital to invest in developing the next generation of advisers.

Firms looking to solve the needs of the future generation of investors and advisers must act now.

Having the right technology, products and propositions in place will allow them to foster deeper relationships with clients, reduce administrative burden and focus on what really matters most: providing quality advice.

Ben Cooper is head of asset management partnerships, IFA and wealth, at SEI