Am I entitled to an unclaimed inheritance in the UK?

You may be entitled to an unclaimed inheritance if a relative died intestate (without a will) and their estate was claimed by the Crown as Bona Vacantia. Under the intestacy rules of England and Wales, entitled relatives include spouses, children, parents, siblings, grandparents, aunts, uncles, and their descendants. Claims can typically be made within 12 years of the death, with discretionary extensions up to 30 years.

What happens to unclaimed bank accounts in the UK?

Under the Dormant Assets Act 2022 (which expanded the original Dormant Bank and Building Society Accounts Act 2008), bank accounts that have been inactive for 15 years or more can be transferred to the Reclaim Fund. The money is then distributed to good causes through the National Lottery Community Fund. However, account holders retain the right to reclaim their money at any time, and banks must honour these claims in full.

How do I trace a lost pension in the UK?

The UK government operates the free Pension Tracing Service at gov.uk/find-pension-contact-details. You can search by the name of your former employer or the pension scheme. The service holds details of over 200,000 workplace and personal pension schemes. If you think you may have lost track of a pension from a previous employer, this is the first place to check.

Is there a time limit to claim unclaimed assets in the UK?

Time limits vary by asset type. For Bona Vacantia estates, the standard claim period is 12 years from the date of death, with discretionary extensions up to 30 years. For dormant bank accounts transferred to the Reclaim Fund, there is no time limit — you can reclaim at any time. For lost pensions, there is generally no expiry, though schemes that have been wound up may have specific deadlines. Insurance policies typically have a 6-year limitation period from when the claim became payable.

Unclaimed Assets in the UK: How to Find Out if You're Owed Money

Q: How do I find unclaimed money in the UK?

You can search for unclaimed money through several official sources: My Lost Account (mylostaccount.org.uk) for dormant bank accounts, the Pension Tracing Service (gov.uk/find-pension-contact-details) for lost pensions, the Government Legal Department's Bona Vacantia list for unclaimed estates, and the Financial Services Compensation Scheme for failed financial firms. LAZARUS also offers a free check tool that searches across multiple databases simultaneously.

Q: How much unclaimed money is there in the UK?

It is estimated that over 50 billion pounds in assets are unclaimed across the UK. This includes approximately 900 million pounds in dormant bank accounts transferred to the Reclaim Fund under the Dormant Assets Act, billions in lost or forgotten pensions, over 9,000 unclaimed estates on the Bona Vacantia list, and hundreds of millions in unclaimed insurance policies, court funds, and NS&I savings.

£50B+

Estimated Unclaimed

9,000+

Unclaimed Estates

1.6M

Lost Pension Pots

The Scale of Unclaimed Assets in the UK

The United Kingdom holds one of the largest pools of unclaimed financial assets in the world. According to various government and industry estimates, the total value of unclaimed assets in the UK exceeds 50 billion pounds. These assets come from a wide range of sources, and their rightful owners — or their heirs — often have no idea they exist.

The scale of the problem led the UK government to pass the Dormant Bank and Building Society Accounts Act 2008 and later the Dormant Assets Act 2022, which expanded the types of assets that can be transferred to the Reclaim Fund when they have been inactive for a prolonged period. Despite these legislative efforts, the total value of unclaimed assets continues to grow each year.

Types of Unclaimed Assets

Unclaimed assets in the UK fall into several distinct categories. Understanding what types of assets go unclaimed is the first step in determining whether you might be owed money.

Dormant Bank Accounts

Bank and building society accounts that have had no customer-initiated activity for 15 years or more. Under the Dormant Assets Act, these can be transferred to the Reclaim Fund. Owners retain the right to reclaim at any time.

My Lost Account • mylostaccount.org.uk

Lost Pensions

The Pensions Policy Institute estimates that 1.6 million pension pots worth around 19.4 billion pounds are "lost" — meaning the pension provider has lost contact with the scheme member due to changes of address or employer.

Pension Tracing Service • gov.uk

Unclaimed Estates (Bona Vacantia)

When someone dies without a will or known heirs, their estate passes to the Crown. The Government Legal Department maintains a public list of over 9,000 unclaimed estates, many with living relatives who could claim.

GLD Bona Vacantia • gov.uk

NS&I Premium Bonds & Savings

National Savings & Investments holds over 850 million pounds in unclaimed Premium Bond prizes alone, plus dormant savings certificates and income bonds where the holder has lost contact.

NS&I • nsandi.com

Insurance Policies

Unclaimed life insurance payouts, endowment policies, and with-profits bonds where the policyholder or their beneficiaries never collected. The Association of British Insurers estimates hundreds of millions in unclaimed policies.

ABI Unclaimed Assets • abi.org.uk

Court Funds

The Court Funds Office holds money paid into court during legal proceedings. Funds can remain unclaimed for years after a case concludes, particularly in cases involving minors, protected parties, or disputed estates.

Court Funds Office • gov.uk

How to Check if You Are Owed Money

There are several free, official resources you can use to search for unclaimed assets in the UK:

1. Dormant Bank Accounts

My Lost Account is a free service backed by the British Bankers' Association, the Building Societies Association, and National Savings & Investments. You can search for dormant accounts by providing your personal details and previous addresses. The service contacts relevant banks and building societies on your behalf.

2. Lost Pensions

The Pension Tracing Service is a free government service that helps you find contact details for pension schemes you may have lost track of. The database holds details of over 200,000 workplace and personal pension schemes. You can search by employer name or scheme name.

3. Unclaimed Estates

The Government Legal Department's Bona Vacantia list publishes details of unclaimed estates in England and Wales. You can search by surname to see if a relative's estate is listed. For more detail, see our comprehensive guide to Bona Vacantia.

4. NS&I Savings

If you or a relative may have old Premium Bonds, savings certificates, or other NS&I products, you can use the NS&I Tracing Service or call them directly. They hold records going back decades.

5. Insurance Policies

The Association of British Insurers can help trace lost or forgotten insurance policies. They maintain a free search service that contacts member insurers on your behalf.

6. FSCS Protected Deposits

If a bank, building society, or financial firm you held money with has failed, the Financial Services Compensation Scheme (FSCS) may be holding compensation on your behalf. You can check their website to see if you have an unclaimed payout.

Search all at once: Rather than checking each source individually, you can use the LAZARUS Check tool to search across multiple databases simultaneously. It's free and takes less than a minute.

The Dormant Assets Act 2022

The Dormant Assets Act 2022 significantly expanded the scope of the original 2008 legislation. While the 2008 Act covered only bank and building society accounts, the 2022 Act extends to:

Insurance and pension policies
Investment assets (including shares and unit trusts)
Securities
Client money held by regulated firms

The key principle remains unchanged: even after assets are transferred to the Reclaim Fund and the proceeds distributed to good causes, the original owner (or their heirs) retains the right to reclaim the full value at any time. The scheme is designed to put dormant money to productive use while preserving the rights of the original owners.

What Happens if You Find Unclaimed Assets?

If you discover that you are owed money from any of these sources, the reclaim process depends on the type of asset:

Bank accounts: Contact the bank or building society directly. If they have transferred your money to the Reclaim Fund, they are still required to repay you in full.
Pensions: Contact the pension scheme administrator using details from the Pension Tracing Service. They will guide you through the claims process.
Bona Vacantia estates: Submit a claim to the Government Legal Department with evidence of your relationship to the deceased. This process can take 6–12 months. Read our full guide.
NS&I products: Contact NS&I with your details and any information you have about the original investment.
Insurance policies: Contact the insurer or their successor company. The ABI can help trace the current holder of old policies.

Professional help: For complex cases — especially those involving deceased relatives, multiple jurisdictions, or large sums — a professional asset recovery service can manage the entire process on your behalf. LAZARUS works on a no-win, no-fee basis.

Frequently Asked Questions

How do I find unclaimed money in the UK?

Check official sources: My Lost Account for bank accounts, the Pension Tracing Service for pensions, the GLD Bona Vacantia list for unclaimed estates, NS&I for old savings products, and the FSCS for compensation from failed firms. Alternatively, use the free LAZARUS Check to search across multiple sources at once.

Am I entitled to an unclaimed inheritance?

You may be entitled if a relative died without a will and their estate became Bona Vacantia. Entitled relatives under the intestacy rules include spouses, children, parents, siblings, grandparents, aunts, uncles, and their descendants. Claims can usually be made within 12 years of the death, with extensions possible up to 30 years.

How much unclaimed money is there in the UK?

Conservative estimates put the figure at over 50 billion pounds across all asset types. This includes dormant bank accounts, lost pensions (estimated at 19.4 billion pounds across 1.6 million lost pots), over 9,000 unclaimed estates, 850 million pounds in unclaimed NS&I prizes, and hundreds of millions in unclaimed insurance policies and court funds.

What happens to dormant bank accounts in the UK?

Under the Dormant Assets Act 2022, bank accounts inactive for 15+ years can be transferred to the Reclaim Fund. The money is distributed to community causes via the National Lottery Community Fund. However, account holders can reclaim their money in full at any time — the right to reclaim never expires.

How do I trace a lost pension?

Use the free government Pension Tracing Service at gov.uk/find-pension-contact-details. Search by your former employer's name or the pension scheme name. The service holds contact details for over 200,000 pension schemes and can help you reconnect with lost pension providers.

Is there a time limit for claiming unclaimed assets?

It depends on the asset type. Dormant bank accounts under the Reclaim Fund have no time limit. Bona Vacantia estates have a standard 12-year claim window (up to 30 years in some cases). Lost pensions generally have no expiry. Insurance policies typically have a 6-year limitation from when the claim became payable. Act sooner rather than later to avoid complications.