Ready to get started?

Details you’ll need to hand:

  • Your National Insurance number. You’ll find this on your payslip or a P60 form
  • The policy number for your pension with us. This would have been set up by you
  • Your other pension providers’ details, including name, member or policy number and current value.
     

 What filling in this transfer application means for you

When you complete this form, you’re confirming you have been told the following:

  • When you transfer to us, your other pension will be closed.
  • If you’d like to speak to a financial adviser, you can learn more about how to find a financial adviser on our Scottish Widows website.
  • How your transfer payment will be invested:
    • If your current plan is fully invested in Retirement Planning or Retirement Income, then the transfer payment will be invested the same way as the existing investment.
    • If your plan is invested in both Retirement Planning and Retirement Income, then the transfer payment will only be invested in the same way as the existing Retirement Planning investments.

It's worth looking back at the choices you made when you set up your Retirement Account.  If you want to change the way your pension savings are invested, call the team on 0345 601 2585.

You have the right to change your mind, this means:

  • If you change your mind about transferring your pension, you’ll tell Scottish Widows within 30 days of receiving your confirmation documents in the post. Scottish Widows will have to return your pensions to your previous providers.
  • If your previous providers do not accept your pensions back, you might have to set up a new policy.

Before you go ahead, check if you could transfer into a pension with lower charges. Sometimes, pensions set up for you by a previous employer may have lower charges than your current employer’s pension or an individual pension, but may not be as flexible when you want to start taking your retirement income. If you're not sure, ask your other provider for details about their charges or options at retirement.

If you plan to take money from your pension soon after you transfer to us, we’ll ask you at the start of the form if you’ve had financial advice or guidance from Pension Wise, or if you would like some before proceeding with your transfer.

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