UK savers have consolidated over £250 million in pension savings through Mylo, which empowers pension scheme members to take control of their retirement finances. 

Mylo, one of the UK’s fastest growing pension apps, has enabled pension scheme members to track and consolidate lost and forgotten pensions. Aegon continues to invest in improving tracing, consolidation, and the wider Mylo experience, ensuring even more savers can easily reconnect and keep track of their retirement savings.

Since launch in September 2025, over 21,000 pension pots have been consolidated through the Mylo app. Mylo now has over 166,000 registered users since launch, as the demand for its pension-tracing and consolidation capabilities continues to grow.

Tools such as Mylo are key to tackling the lost and dormant pension pots issue – the Pensions Policy Institute estimates £31.1 billion sits in lost pensions, whilst around £550 billion is estimated to sit in dormant assets*.

Raindrop’s tracing technology supports Mylo’s ‘Find and Combine’ activity. Alongside this, Mylo also offers a ‘Combine-only’ route, where members provide their pension details directly.

Nick Roy, Commercial Director of Workplace at Aegon, said: "The fact that more than £250 million has now been consolidated through Mylo shows the growing demand for simple, digital solutions that help people take control of their retirement savings. It’s encouraging to see so many scheme members actively reconnecting with pensions that may otherwise have remained forgotten, helping them build a clearer picture of their financial future. 

“The rapid growth in Mylo’s user base and the level of engagement we’re seeing demonstrate the value of making pensions easier to find, understand and manage. As a business committed to the UK market for the long term, we continue to invest in innovative services that improve customer experiences and support better retirement outcomes.  

“Reaching this milestone is a significant achievement, and another step in helping even more people engage with their pension savings and plan with greater confidence for retirement." 

Vivan Shridharani, Cofounder & CCO at Raindrop, said: “Solutions such as Mylo are critical to tackling the dormant pots issue and improve UK retirement outcomes. Mylo and Raindrop’s partnership enables customers to simply trace and consolidate pension pots providing greater control and engagement over savings.

“Customer adoption continues to surge demonstrating the strong demand for simple tools such as Mylo – this is a great example of how pension providers and fintechs can collaborate to empower savers.”