Some 15,000 payouts are currently unclaimed by ex-personnel, according to the Forces Pension Society.
Veterans must take action to get what they are owed by the Ministry of Defence – the money will not be handed over to them automatically.
If you are entitled to pension cash contact Veterans UK using AFPS Form 8, or by calling 0800 085 3600.
Anyone who served after April 1975 – and who is now aged 60 or over – could be entitled to claim if they served in the military for two years or more.
Forces Pension Society chairman Jonathan Wheeler (ex-RAF) said: “For most former personnel, a pension makes a considerable difference.
“It is only right that the MoD pays the pension to which they are entitled.”
As well as trying to raise awareness among ex-troops, his team is pushing for changes to the system so that people do not miss out in the first place.
“We believe change is consistent with the spirit of the Armed Forces Covenant,” he added.
