It’s a good idea to compare the pensions you’re looking to transfer with the one you want to transfer them into. This means you can make an informed decision and get the best deal for you.
If you transfer pensions to us, it will be into your existing Scottish Widows workplace pension or your Retirement Account. If you don’t have either of these, you’ll need to set up a new Retirement Account.
You can do this over the phone or start your application online.
Before you compare, you will need…
Your existing policy documents
These are usually sent in the post or by email when you set up the pension.
Details about your pensions
Send this letter to your current provider or use it to talk to them over the phone.
Letter to your provider
Use our comparison checklist
Use this checklist to see if transferring your pensions to us is the right thing for you.
Look at the charges you pay for managing your existing plan and compare them with ours to see whether you're paying more, or less.
Check the features your pension has. For example, a workplace pension or Retirement Account from Scottish Widows allows you to:
- track your transfer status with text alerts to your mobile phone
- switch how your money is invested, without charge
- talk to our UK-based customer service team.
Your current pension provider may charge you a fee (known as an ‘exit penalty’) for transferring to us.
Any protections, guarantees or other valuable benefits
Consider the valuable benefits and features you might have that you would lose if you transfer your pension to us.
Not sure what these are? Go back to Can I do it?