New or have a different type of pension with us?

If you’re looking to transfer your pension to us, then read on to find out more about the type of plan we offer.

 

Guide to Retirement Account

The features and benefits of Retirement Account.

What product do we offer for transfers?

If you are interested in transferring or consolidating your previous pension pot(s), the product that we can offer you for this purpose is our Retirement Account. It is important that you understand whether it is an appropriate product for your needs and whether consolidating your previous pots into it is the right thing for you.

Are you eligible for Retirement Account?

  • You can start a Retirement Account with a contribution of £10,000 (which can be made up of more than one transfer)
  • There is no minimum age to take out a Retirement Account
  • You are under age 75 when you take out the policy
  • You must be normally resident in the UK.

Find out more about Retirement Account

Our Retirement Account:

  • is a straightforward plan for life
  • is competitively priced with transparent charging
  • is easy to set up and manage
  • can be suitable to consolidate your pension savings
  • offers a broad range of investment choice
  • comes from a financially strong brand that you know and can trust.

For more information on Scottish Widows Retirement Account please read our guide (PDF) and Key Features (PDF).

Pensions are a long-term investment. The retirement benefits you receive from your pension plan will depend on a number of factors including the value of your plan when you decide to take your benefits which isn't guaranteed, and can go down as well as up. The value of your plan could fall below the amount(s) paid in.

Is transferring your pension into Retirement Account right for you?

Before speaking to us to set up a Retirement Account, you need to make sure that transferring a pension is the right thing for you to do. With this in mind please review the following:

Step 1 – Things to consider

Please note that Scottish Widows cannot give you financial advice, reviewing this content will help you evaluate if transferring a pension is the right thing for you to do.

Don’t have the right information?

If you don’t have the above information to hand or filed away at home, please contact either:


How do I trace a lost pension?

It’s very common to lose track of your pension. This video explains how you can find details of a lost pension.

If you can’t find an old statement or remember what company an old pension is with, there’s a free government-run pension tracing service that can help you track down old and dormant plans.

Pension Tracing Service

How to set up your retirement account

Before setting up a new Retirement Account you need to have all the information from the plan you wish to transfer to hand including the policy number and transfer value and then you need to call us on:

0345 845 0545

You can call us Mon – Thurs 9am-8pm, Friday 9am-6pm and Saturday 9am-1pm

A member of our team will guide you through the application process which will consist of:

1

Speak to us

Day 1

2

Processing and set up

2-4 weeksClick here for help text

3

Pension transferred

We will send you a confirmation letter and post sale documents when the transfer is complete.