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How to save and especially invest for under-18s
Best buy Junior ISAs, children's savings & even kids' pensions. Plus the taxing question of... er... tax!

Martin: On my Question Time podcast this week, a parent got in touch and said: 'I'm useless with money, and feel I don't do the right thing with my children's.' I suspect this is quite common. Some parents who lack financial confidence or skills can feel a guilt that they may be subserving their kids because of it. So today I want us to try and help you with that.

As a nation, we're too risk-averse, which is why my biggest push is for parents or grandparents to consider investing for your child. And no, I don't mean Premium Bonds (which, as I'll explain, often underperform for children). So below, the team and I will run through...

New. FREE £50 for 13 to 17-year-olds. The Santander 123 Mini* children's bank account pays £50 into the account of new customers from age 13 up to and including age 17. To get the bonus, you need to deposit £50+ within 31 days. At that point, you can then withdraw the money and it'll still pay the cashback (it takes up to 60 days). The account itself offers a contactless debit card and tiered interest: a decent 3% on all savings in there if you've £1,500 to £2,000, 2% on £1,000 to £1,500 and 1% below £1,000 (nowt above £2,000). Yet, as you'll see below, it's beatable.

Child born 1 Sept 2002 to 2 Jan 2011? They'll have had a Child Trust Fund instead, read more on that below first.

You can save or invest for your child either in a normal account or within a Junior ISA (JISA) - a tax-free account wrapper which an under-18 can have up to £9,000 total paid into each tax year. Once in a JISA, the money stays tax-free year after year, so for those lucky enough to have it maxed out each year, it can end up in the £100,000s.

There are both cash JISAs, where the interest isn't taxable, and Shares JISAs where the investment gains and dividends aren't taxable. A child can have both, but the limit is still £9,000 added a year in total for the two.

JISAs must be opened by a parent or guardian with parental responsibility. At 16, the child can take control of it themselves. In a split family? Do co-ordinate with the other parent, so you're not both opening one, that can cause problems.

DON'T use JISAs for money your kids will need while they're kids. The money can't usually be withdrawn or touched til they're 18 (barring terminal illness and death), so it's only for money you're putting away for their long-term future.
DO use JISAs for money you want to lock away till they're adults. Once money is in a JISA, it's only accessible on their 18th birthday. So it's a simple way to lock money away for their future without them (or their parents) getting their hands on it. Yet on the day they turn 18, it's their money and is under their control. So, if you're putting it aside for them to use at Uni they may decide to buy a Harry Styles-themed camper van instead.
DO look at JISAs if your child may pay tax, especially if their money comes from parents. This isn't that important for smaller amounts, as most children don't pay tax. This isn't a special "children's rule" - they are mostly taxed like adults, but that means they can usually earn £12,570 from any source income tax-free and most kids don't earn over that.

Yet money given by parents is different for under-18s. If an individual child earns £100 or more a year, in interest or dividends, from money given to them by a specific parent or step-parent (not grandparents, aunties, uncles or others) it's all taxable as if it were the parent's income. This is to stop parents stashing their own cash in their child's name. So if the parent has used up their Personal Savings Allowance or dividend allowance and pays tax on income, their child will too. That's when JISAs really count, as the money given by parents isn't taxable.

Martin: Using a Junior ISA, most should be going for shares not cash...

Watch Martin answer above on last week's ITV This Morning phone-in where a grandma asked Martin, 'where's the best place to save for my new grandchild for when they're older?'

If you're locking money away in a Junior ISA until your child is 18, I'd strongly urge you to consider using the money to invest rather than save (or, if nervous, invest at least some of it). The reason comes from looking at...

The two big 'when to invest' rules.

It should be money you don't need to use for now. And if you're putting money in a Junior ISA, unless the child is nearly 18 already, they can't need it or you wouldn't be locking it away.
And it should also be money put away long term (say 5+yrs). JISAs lock money away until they're 18. So as most start when the children are young, that is long term.

So clearly JISAs often hit the sweet spot for when to invest...

Investing means your money is put in assets such as shares, corporate bonds and more, in the hope that you get far higher growth, but at the risk you could end up with less than you put in - or even nothing. Yet if you aim for a wide spread of investments (more on how to easily do that below), as most beginners should, that helps mitigate the risk. Do that and, on the big balance of probabilities, over the long term investing will hopefully substantially outperform savings - in which case your kids will have a far bigger nest egg.

Of course, many worry about volatility and markets are, by definition, volatile. That's why seeing this as a long-term thing is crucial. That way, over time the short-term ups and downs will hopefully smooth out. Plus, if it's long term, there's less risk you'll feel forced to sell at a bad time. After all, as the maxim goes: "Time in the markets beats timing the market." So I suggest you don't look at the investment every day, that's scary, and can lead to poor decisions. Nothing is guaranteed with investing, of course, it is about risk - do look at how my TV audience were shocked when I showed them them this investing-vs-saving graph.

Where to invest.... the top Junior Shares ISAs

Buying individual shares is highly risky for beginner investors. Instead, use a 'fund', which owns lots of different shares, or bonds, or other assets, and you get a merged performance of them all. And within the choice of funds, the easiest are tracker funds - they usually have low fees and simply track the performance of a specific index, eg the S&P 500 (big firms on US stockmarket companies) or the FTSE 100 (big firms on UK stockmarket) etc.

On my Investing for beginners podcast... Ed Marshall of Deans Wealth Management, said: "You want to be in more than the FTSE 100 or S&P 500. If you look at the MSCI World Index, you've got [over a thousand of] the world's largest companies, but then you can buy global tracker funds that will buy even more shares, so instead of just 200 different companies, try and aim for 5,000+ different companies. Try and buy the world. That diversification will help to take risk off the table."

You can buy funds via a platform - this is a bit like how you buy gig tickets through a ticket website, though unlike ticket websites, platforms can be cheaper than going direct to the fund manager. There's lots of options

Happy to DIY pick and do your research? You can use a platform that lets you pick individual funds yourself. We've not done a full comparison but I'm talking the likes of Hargreaves Lansdown* and Fidelity* which have no management fees for their Junior ISAs (though funds still have their own fees) and AJ Bell.
New to investing? Robo-investors, for example Aviva's Wealthify* and Moneyfarm*, automatically pick for you from a far more limited range of funds (sometimes their own funds). They do this by asking you a few questions about your attitudes to risk and your investment goals. Better still, if you already have a financial adviser, speak to them. More info in my Investing for beginners guide, and in Top JISAs.

And JISAs are a very important tax protection for shares and funds.

The fact you invest within a JISA means any gains or dividends aren't taxable. Capital Gains Tax is the tax you pay on profits, and children are eligible to pay it just like adults. This means they have a £3,000 allowance each tax year. That sounds a lot for children, but the way Capital Gains works means it isn't as big as it seems.

Imagine you bought a fund for £9,000 and 10 years later, it'd done well and you sold it for £30,000. The Capital Gain is £21,000 - and all of it crystallises in that tax year. The fact you'd held it for 10 years is immaterial, even if you'd never made another Capital Gain in all that time. This is why Capital Gains Tax can be so big.

Outside an ISA you're taxed on profits above £3,000 in the year, so in a simple case £18,000 would be taxable (the rates are 18% or 24% depending on your income), whereas within a JISA it would all be tax-free.

PS: Big thanks to Kate Gannon of Themis Wealth Management for casting an eye over this for me as it's a regulated area.

If you or your children want to put money away in savings you can access and use, you need a specific kids' savings account, as most adult accounts are for age 18 or over. Yet the good news is children's rates may be higher, which banks can do as the maximum amounts aren't huge (they want child customers in the hope they may end up buying a wee person's custom for life).

There's no limit to the number of accounts or types you can have. All these accounts are taxable savings, though as explained above, most children won't pay tax. And all listed have the full UK £120,000 savings safety protection.

Top EASY ACCESS children's savings accounts
Simple savings accounts you can put money in and withdraw when you want. As they're 'variable', the rate can drop so do monitor it (or better, get your kids to if they're old enough, as a financial education lesson).
Nationwide FlexOne Saver	5% on up to £5,000 (linked to the FlexOne children's current account, which has a debit card, which you must open first).	For ages 11 to 17. Parent or guardian must apply for under-13s in branch. Older children can apply online. Yet all can manage online, via app or in branch.
Kent Reliance Children's Saver	4.18% on £10 to £25,000. This is a savings account, so no cards.	For ages 0 to 17. Open and manage via post or in branch. Parent or guardian must apply for under-7s. Open and manage via post or in branch.
HSBC MySavings	3.75% on £10 to £3,000. At 11, child gets a linked MyAccount current account with debit card and online/app banking.	For ages 7 to 17. Parent or guardian must apply in branch (or online if they bank with HSBC). Parents can pay money in, but only the child can withdraw money. Until age 11, child must deposit & withdraw in branch, after that they can do it online or app via its MyAccount current account.
Santander 123 Mini*	3% on £1,500 to £2,000, 2% on £1,000 to £1,499, 1% on £1 to £999. It's a current account, from age 11, your child can choose from a debit card or an ATM withdrawal only card. FREE £50 for 13-17 year olds when you open an account online and save £50+ within 31 days (see full info above).	Ages 0 to 17. Parent or guardian must apply on behalf of U13s in branch and have Santander current account. Children aged 13+ can apply online. Parent manage it online, via app, phone or in branch until their child is 11.
Lloyds Bank / Bank of Scotland	2.25% on £1 to £5,000. Savings account which can only be opened/managed by parents.	Ages 0 to 15. We've included this as it can be opened online - but only if the parent or guardian has a current or savings account with Lloyds/BoS. And it's the parent who must open it and manage online

Easy-access accounts aren't the only ones out there worth looking at...

Top children's FIXED savings. Here, the rate is guaranteed for a set period, but the money can't be accessed (so useful if you want to lock it away until they're a few years older). The top fixes are State Bank of India 1yr, 2yr & 3yr all at 4.65% (min £1,000), Saffron BS 1yr at 4.1% & 2yr at 4.15% (min £500), Cambridge BS 3yr 4.15% (min £1,000)
Top children's REGULAR savings. These are for when you put money aside every month. Principality BS pays 4% fixed for 3yrs for ages 0 to 15yrs. You can save up to £150/mth and you can skip months, but no withdrawals are allowed, so you'd need to close the account to get money out early. More options in top children's regular savers.
Top Junior cash ISAs. If you want to lock money away until your child is 18 and have decided a shares ISA isn't for you. A cash ISA lets you do that where the savings interest isn't taxable. The top rate is Leek BS 3.85% and it's available via post or branch as are quite a few others at 3.75%+ (see top Junior cash ISAs). For online access, the government-owned financial institution NS&I pays 3.7% (it used to be known as National Savings).

Already got a Junior cash ISA? If your child already has a Junior ISA that pays less, you can transfer it to any of these to earn more - or shift it to a shares ISA. Just apply for the new Junior ISA, fill in the transfer form and the new provider will move it for you.

Martin: Are Premium Bonds good for children?

For years, many people, especially grandparents, have gifted children Premium Bonds. And frankly, many would've done better sticking with normal top savings (or even better investing for longer term). Premium Bonds are govt-backed savings, where the interest is based on a prize draw. The current prize rate is 4.35% so that's less than the 5% top kids' savings - and even then, this prize rate overestimates what most people will actually win with typical luck (see Are Premium Bonds worth it? for a full explanation why). Premium Bonds are best for:

Those with over £5,000, as then you've a better chance of earning closer to the published prize fund rate. With less, the odds are, with typical luck, you'll win little or nothing.
Those who pay tax on their savings interest and have used up their ISA allowances, as Premium Bond winnings are always tax-free.

As most children have small amounts of savings and aren't taxpayers, Premium Bonds are less appealing. Of course, there's the ludicrously small chance your child will win a million - but hey, they could also toss a coin and have it land on its edge.

So if you're thinking of putting £1,000 or less into Premium Bonds for a child, note that with average luck our Premium Bonds Probability Calc shows they're likely to win nowt over a year (try it based on your scenario).

All UK children aged roughly 14 to 23 (born 1 Sept '02 to 2 Jan '11) were automatically given a CTF. It's the tax-free predecessor of the Junior ISA, and works almost exactly the same way: the money being locked away till your child is 18.

If your child had a CTF, you can't open a JISA unless you transfer the CTF into the Junior ISA first (see below for how) - if not it can be a nightmare (see we're losing £1,000s in our JISA because we didn't know they had a CTF). Yet there is one big difference between CTFs and JISAs...

...the state paid in £250 to start CTFs off (£500 for those in lower-income families), so even no one else added to it, every child of that age had some money in. Unfortunately, many have lost track of it. What you do depends on your situation:

Know where the CTF is, and the child is still under 18? Consider transferring to a Junior ISA. CTF savings rates are poor as it's now a dead account, and financial advisers tell me the choice of investments isn't that great in the shares version either. The good news is if your child has a CTF, you can convert it to a Junior ISA, where the rates are better. This can be the same type of JISA eg cash to cash, or a different type, eg, cash to shares. To do it, you just apply for the Junior ISA and fill in the CTF details in the transfer section. For all the details, read the Junior ISA section above.
Don't know where your CTF is? You may have £1,000s sitting in one! Official stats show 760,000 may have a CTF and aren't aware of it, with an average balance of £2,000 (though this can vary hugely with age, whether it was an investment, and whether any money was added). Martin's video takes you through how to locate it.

- If you already know your CTF provider, you can contact it directly.
- If you don't know your provider, there is a FREE tool via Gov.uk to help you find it - there's absolutely no need to pay. Parents can do it for under-18s, and over-16s can do it themselves (and yes even if you're over 18 you can still trace the money, it's yours!).
- You should get a response from HM Revenue & Customs within three weeks, telling you which provider has your cash. See our Reclaim your Child Trust Fund guide for full detail.

Delightfully, Kirsty emailed to say: "As an adoptive family we didn't know anything about Child Trust Funds until I read one of your newsletters. I followed the advice, was informed where the funds were originally set up, and we found both funds were valued at about £1,000 each. Thank you so much for raising our awareness."
Over 18 and got/had a Child Trust Fund? If you do (or did) nothing at the age of 18, your CTF will mature into the same provider's cash or investment ISA, which may well be pants. So it's worth you locating the money, and making a proper decision. See our what to do with maturing Child Trust Funds / Junior ISAs help.

Your child can have a pension too - and get tax relief!

If you're lucky enough to have enough spare cash after you've maxed your children's JISA , then starting a pension for your child is worth considering. It may also make a great gift from grandparents (though parents need to open it), so a newborn now may remember how you helped them in over half a century's time.

Pension rules allow even those who don't earn anything, of any age, to get the equivalent of 20% tax relief. That means for every £80 saved in a child's pension, the pension firm automatically tops it up for the state, with what's called 'relief at source', so your child gets £100. The max someone who doesn't pay tax can put away is £2,880/yr, meaning they get £3,600 saved.

On current rules, the money will be locked away until they're at least 57 (my guess is likely older by the time today's children retire). Yet as it's almost always better to start pension saving early, as it has so many decades to grow, this is a great start. For more and help how to do it see should I open a pension for my child?

DON'T believe the fake 'Martin Lewis' or 'MSE' ads
Lots of scam ads litter social media and even newspaper websites - some of these lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning.

New. Easy hack gets a year's totally FREE (£90) Apple TV
All you have to do is sign up for a fee-free credit card. Plus... it's a top 0% balance transfer deal for those who also have debt to shift

This new Barclaycard Platinum fee-free credit card deal gives all accepted cardholders who don't already have a Barclaycard (and haven't in the last 6mths), a year's free subscription to Apple TV as a sign-up perk. It normally costs £10/mth or £90/yr. You've two options with this...

1) How to do it just for the free Apple TV. Use our eligibility calc to apply, as it'll show you whether you're likely to be accepted first - if not, don't bother. Then get the card and wait for up to 90 days, when you'll be emailed a code to redeem your free Apple TV (you've till 5 June 2028 to do it). Of course, it wants you to then use the card, but you don't need to - you can just do nothing or cancel the card after you've redeemed your code.

Already pay for Apple TV? You'd need to cancel your subscription and wait before redeeming the new 12mths - either until the end of the month if paid monthly, or the year if paid annually (you've until 2028 to redeem it so it isn't an issue).
Will applying affect my credit score? This is a common question on these types of deal. All credit applications have a short-term, minimal impact on your file (hence why we say go via the eligibility calc to see if you'll be accepted first). Yet for most people with decent credit scores, as long as you're not imminently due to apply for 'important debt', it's not a biggie. Normally, the examples of 'important debt' we give are a mortgage or a balance transfer - but here it's only a mortgage, as if you're doing a balance transfer, this card does that anyway...

2) It's a top balance transfer card for cutting existing card debt costs too. The Barclaycard Platinum credit card also lets you shift debt on existing cards to it for up to 36mths 0% with a 3.15% fee (link via our eligibility calc, which if it shows you as pre-approved, means you'll get the full 36mths 0% - if not, it can be 36, 32 or 18mths - the calc will also show other top 0% transfers). You can see how it compares to the rest of the market below - but first, when choosing...

Go for the lowest-fee card with a 0% term long enough to clear your debt. The longer the 0%, the bigger the one-off fee (eg, 3% = £30 per £1,000 of debt shifted), so shorter 0% cards are cheaper. Unsure? Play safe & go long.
Usually rejected when you apply? There are poorer-credit 0% cards in the Eligibility Calc. Plus, our free MSE Credit Club can analyse your credit issues (easiest route is via the MSE App on Apple | Android).

Top new cardholder 0% balance transfers Links via Eligibility Calc to show if you'll be accepted
LONGEST 0% deals - you pay a fee but have longer to clear
DEFINITE long 0% cards, so ALL accepted get the full 0% length. So, if you've decent acceptance odds, you know exactly what you'll get, making 'em the top choice.
HSBC (existing customers use this link) Definite 36mths 0% (3.09% fee). 24.9% rep APR after.
Virgin Money Definite 36mths 0% (3.1% fee). 24.9% rep APR after.
'UP TO' long 0% card (so some get a shorter deal) but with added perk
New FREE Apple TV for a year if accepted Barclaycard Up to 36mths 0% (3.15% fee). 24.9% rep APR after. Via our Eligibility Calc you'll be told whether you're pre-approved for the full 36mths 0%. If not, you could get 36, 32 or 18mths 0%, you can only find out by applying. As explained, you get the Apple TV if accepted - you could see this as an effective £90 reduction in the fee if you were paying for Apple anyway. Barclays current account customers applying via its app also get £20 cashback when you balance transfer £2,500 within 60 days.
Longest 0% but it's an 'up to' so not all get it and it's not in our Eligibility Calc
TSB Up to 38mths 0% (higher 3.49% fee). 24.9% rep APR after. NOT in our eligibility calc, the link goes direct. Some accepted customers get 32 or 35mths 0%.
Top NO-FEE 0% deals, cheaper if you can clear the debt far more quickly
Virgin Money Definite 12mths 0% (NO FEE). 24.9% rep APR after.
Barclaycard Up to 12mths 0% (NO FEE). 24.9% rep APR after. Via our Eligibility Calc you'll be told whether you're pre-approved for the full 12mth 0%. If not, you could get 12 or 6mths 0%, which you can only then find out by applying.

ALWAYS follow the Balance Transfer Golden Rules:
a) Never miss the minimum monthly repayment, or you could lose the 0% deal and it'll cost far more.
b) Aim to clear the card (or balance-transfer again) before the 0% ends, or the rate rockets to the higher APR.
c) Don't spend or withdraw cash - it's often not at the cheap rate & withdrawals may hit your ability to get credit.
d) If you don't transfer at application, you've often only 60 to 90 days to get the 0%. Check your card's terms.
e) Try not to borrow more, if you've already built up debt, you won't get rid of it with further borrowing.

Martin's quick balance transfer FAQs (click links for the answers)

Q. Is it worth applying if my eligibility odds are low? | Q. What if my credit limit isn't big enough? | Q. Can I shift debt to existing cards? | Q. Should I try to pay off my biggest debt first? SPOILER: NO.

Full help and info, including options for poorer credit scorers, in Best balance transfers.

News. HMRC sending letters saying "you're due £70ish" to low earners with a workplace pension. HMRC's writing to around ONE MILLION lower earners to let them know if they're eligible for a top-up as they weren't given enough tax back. It's typically worth around £70, but can be more. What to watch out for & how to ensure it's not a scam.

Four FREE McDonald's coffees throughout September. No minimum spend required. Don't mind if I brew...

Easy FREE £240 cash to switch bank - biggest bonus of the year so far. New switchers who apply to Santander's Everyday account* get a FREE £240. We told you about it in full detail in our biggest free cash of the year note last week (which we've updated for you), so this is a reminder in case you missed it.

It's big beauty Advent calendar time! Over 20+ incl Selfridges £1,180 of items £250, Glossybox £547 for £90. Stores are already launching this year's festive offerings, and these beauty bundles can be a great way of getting items you'd normally buy for cheaper, or to split up as gifts. See MSE Olivia's beauty Advent bargains.

How long will NatWest's top 4.55% easy-access savings last? We honestly have no clue - yet we know it's hugely popular, and suspect it'll shut its doors once it hits a 'new accounts' target. So if you want it, soonest is safest. The account is the First Active (part of NatWest) 4.55%* easy-access saver (min £1, max £1m - includes a 1yr 1.5% bonus). It's unbeatable for larger amounts, though it limits withdrawals to £10,000 a time and £20,000 a day. If you've more saved, you need to close the account to withdraw the whole lot. App-only Tembo also pays 4.55%* (includes a 1.55% 1yr bonus), but that's max £20,000 and you need to keep £1+ in it for a year to get the bonus. For those saving under £5,000, there are a few accounts that pay higher rates. See Top savings accounts for full info and alternatives.

214 spring bulb bundle £16 delivered. MSE Blagged. 15,000 sets available. Plant now and they should flower for spring next year. Via Thompson & Morgan.

'OMG! I saved an incredible £350 on car insurance thanks to your tips - kerching!' Success of the week. Judith emailed: "I always read your tips. This is my first year retired, so saving the pennies is paramount. OMG! I followed your 26-day tip! I popped the day in the calendar and it coincided with a renewal quote from my insurer for £667. Last year's was £408 and I set myself a target of beating that by following your guide. Then I pressed the 'Get Quotes' button [on your Car Insurance Compare+ tool]...and I won!! NCD protection, legal protection, windscreen cover, additional driver, the list went on and the price... £318 all in!! An incredible £349 saved. Kerching!! Can't thank you and your team enough for making it so easy. If we've helped you save or reclaim (on anything), let us know.

Martin video: Child in secondary school? Prep now for the hidden uni parental contribution. Each new school year brings your child closer to uni age. If they do go, there's a hidden parental contribution - often £1,000s/yr - especially for those from England. Most parents aren't warned to save in advance, so watch Martin's parents' warning video and listen to his full the hidden uni cost podcast. And try our How much to save for uni? calc.

50+ birthday FREEBIES, eg, M&S, Krispy Kreme, Costa & more. Statistically, September is the most common month for birthdays, and some firms give you freebies just for getting older. Birthday freebies

Ends Thu. 150Mb broadband + Sky Stream (incl Netflix & Discovery+) '£29/mth'. As well as broadband, with this Sky deal newbies get Sky Stream Essential TV, which includes basic Sky channels plus Netflix and Discovery+ ( ad versions). It's £32/mth, and you'll be emailed a choice of a £80 prepaid Mastercard or shopping voucher within 4mths of your first bill (check your junk). Factored in, it's £28.67/mth over the 2yr contract. While the price could rise, likely in April 2027 and 2028, if it does, you'll be able to leave the contract penalty-free. Want other options? Use our full broadband comparison.

How to stop loans for a gambling addict? | Am I short-changing my kids on their savings? | Does Section 75 work if you pay with vouchers? Martin answers these questions from listeners & more in this week's must-listen Martin's Question Time podcast. Do give it a listen, via BBC Sounds | Apple | Spotify etc.

Kids starting or in senior school? Why you need to look at Uni costs NOW | Fix energy bills, or refix if already fixed? | Flight delay rights | Wear uniform? Get tax back. Plus restaurant workers' secrets, all in Martin's new Big Topics pod. Listen via BBC Sounds | Apple | Spotify etc.

BLAGGED FOR MSE

- 214 spring bulb bundle £16 delivered 15,000 sets available

DID YOU MISS?

- FREE visits to 7,500+ historic buildings & heritage sites
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- Ends Thu. 25% off railcards code
- Top student bank account gives 0% overdraft, 4yr railcard & £20

Martin: Can you join THE PENSION RECLAIMERS?
'Thanks, I've just found a pension worth £47,000! I had no recollection I'd paid into it. It was back in my early 20s'
(And I would reclaim £50,000, and you can reclaim £50,000 more... da lat da...)

This really is worth singing about. Back in June, in this email, on my podcast and on telly, I shouted about the estimated £65 BILLION in unclaimed personal and workplace pensions (not the State pension) - urging you to check whether you had any and trace 'em. First successes trickled in, and now it has turned into a bit of a flood. Clearly, it takes a couple of months for it all to play out. So I want to celebrate the successes to encourage more of you to give it a go. There's full info in our how to find old pensions guide, but in brief...

Why you may have lost track. It's often a mix of changing jobs several times and not updating your old employer or pension provider when you move home. Combine this with firms merging or changing names, and it's easy to lose track. And, of course, it's easy to lose track of deceased relative's assets too. Debs emailed us last month:

"I used the Gretel website [see below] and found a pension pot worth £47,000! I had zero recollection of paying into this pension - it was my early 20s, and I've just turned 60. Thank you MSE."

There are two routes to reclaim, best is to TRY BOTH....
Route 1: The Official Way (covers more firms).
- Dig out any old paperwork and try contacting past employers first
- No luck? Try the Govt's official Pension Tracing Service tool. You tell it the name of the employer or pension provider you remember and it has up-to-date contact details (including where firms have changed names or been taken over)
- Once you've got the details, contact the pension provider (you'll usually need to provide ID) to see if you have a pension there. As Bernie emailed in July:

"I found a piece of paper stating I'd paid £303 to a pension in 1989 for about a year. I traced it using your advice via Gov.uk thinking I'd get the cash back plus a small amount of interest. Turns out I have over £19,000 and if I leave it for two years until I'm 60, it'll be worth over £20,000."
Route 2: The Fintech Way (easier to do but fewer firms)
Fintech firm Gretel is free. You needn't remember the names of your past workplaces or pension providers as it does a 'soft search' on your credit report (one that doesn't impact your credit score) to check your identity and match you with past addresses where you may have accounts registered. It's not just pensions, it also looks for lost investments, savings and bank accounts. Once you're signed up, it re-runs the search every fortnight, so if there's a hit with a new firm, it'll tell you.

- How is it free? Financial firms have a responsibility to "make reasonable efforts" to reunite people with their lost assets. Some firms pay Gretel to do this for them, as it's likely cheaper than tracking people down themselves. Hence it's free.

- How does it compare to the official route? It's far easier to use as it does it all for you, results are quicker, and I've had good feedback. Yet it only works with institutions signed up to it, so there can be many providers missing compared with the official route, which is why I'd do the other route as well.
You can search for deceased relatives' pensions too. If you are the executor, administrator, or someone else with authority to act, you can search for an old pension on behalf of someone who's died with both routes above. Just select that you're searching for someone else. Though at some point in most processes, you'll be asked to prove you're legitimately doing so (eg, death certificate, Letters of Administration, or Grant of Probate).

Yet even if you find a pension (or death benefit), whether it is payable - and who gets it - depends on the pension type, scheme rules and any nomination. In some cases, it won't be passed on. See how to recover deceased relatives' assets for more help. Kirsty did, and emailed us in August:

"My father sadly passed away in May 2024. After seeing an MSE email mentioning Gretel, I registered and added my father as a third party. Gretel was able to provide a match, and I contacted the provider. This week, the pension paid out over £58,000, which meant that my two siblings and I each received over £19,000 from a pension we had no idea existed. I want to say thank you to Martin. I hope sharing our experience encourages others to check whether they might have lost assets they do not know about."
You can reclaim other lost assets too...
- Trace lost bank accounts, savings accounts and Premium Bonds
- Find lost investments and insurance policies.

FREE Greggs breakfast roll & hot drink , plus more deals for some who ride the bus this Sept. It's Catch the Bus Month, so check if your local bus company is offering perks. See Deals on the bus.

Got Eurostar loyalty points? Use them before 29 October to maximise your miles. See Eurostar warning.

Live in Northern Ireland and use heating oil? Check if you qualify for new £100 support. Help is finally available to those in NI struggling with the high heating oil prices as a result of the Middle East conflict. From tomorrow (Wed), 340,000 households can get a £100 voucher to help buy home heating oil - check now if you qualify. It follows similar schemes for Eng, Wal and Scot (though the Wal/Scot schemes close on 30 Sep, so go quick). See full Heating oil help

Netflix hikes prices by up to £24/yr. Check how much your plan's rising, plus tips to save on streaming. Netflix hikes

Picturehouse to overhaul membership scheme - can you save on cinema tix by signing up now? See Picturehouse shake-up analysis.

Haggled with Sky, BT, the AA or others in the last six months? Did you succeed? Haggling can land big savings on insurance, broadband, breakdown cover and more. Every 6mths, we try to gauge the success rates of those who have done it. If you've got cheaper prices, extra goods or better deals, please vote in our haggling poll.

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MONEY MORAL DILEMMA

How much should I charge my friend who stayed with me after losing his job? A friend lost his job and asked to stay at my place for two weeks. I agreed, as long as he contributed to household bills and food shopping when he got a new job as my costs would rise. He and all his belongings ended up staying for three months. My rent and bills come to £1,400 a month. Now he's back in work, how much should I ask him for? And should I ask for monthly payments or give him longer to pay? Enter the Money Moral Maze: How much should I ask my friend to pay for staying with me? | Suggest a Money Moral Dilemma (MMD) | View past MMDs

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