Welcome to your workplace pension

Everyone needs a plan for retirement. If you are considering joining your company's Group Additional Voluntary Contributions plan or are already a member you can find out about the benefits of the plan here. It’s a great way for you to prepare for the retirement you want. This site is designed to help you understand your pension and your Retirement Journey.

Scottish Widows can help you

About your pension

Understanding your pension

Read all the literature below to understand more

  • Employee Booklet – this should answer most of your questions.
  • Key Features – important information you need to read.
  • Example Illustration – this shows our standard charges and how they could affect what you might get back. Your actual charges may be different from those shown, please see your personalised illustration for details of these.
  • Get the latest Fund Prices.

Unless your retirement is on the horizon, you may struggle to picture exactly what you’ll be doing in 20-40 years time. Our Retirement Explained page can help you think about things that you should do whether you’re years from retirement or retiring soon.

How do I join?

Once you have read the Key Features along with Important Notes For Application, Key Facts About Our Services and Costs and Policy Provisions simply complete the Application Form and return it to your employer.

Utilising the new pension flexibilities

The government have introduced new options as to how you can take your retirement benefits giving you greater flexibility over your retirement income from age 55. These rules are applicable to those pension schemes which have adopted the new rules. While it is not possible for you to access these new pension flexibilities directly from the AVC arrangement, Scottish Widows have introduced a new process that allows you to transfer out of your AVC arrangement into an alternative personal pension arrangement provided by Scottish Widows that can facilitate the pension freedoms.

Further information about the pension flexibilities can be found here.

Encashment

Please call our retirement hub on 0345 835 6644 to initiate this process.  The call handler will need to take some information and take you through a number of steps to allow Scottish Widows to settle your benefits.

Once the required information has been obtained, we will write to your scheme trustees with a specific form for them to authorise the transfer from the AVC to an alternative product (personal pension) that facilitates the new pension flexibilities. 

Once this form has been completed by your scheme trustees, this will be sent to you for further completion and returning to Scottish Widows.  Once received, we will transfer your AVC policy in a personal pension vehicle using a cash fund.

Once the monies are within your personal pension, we will encash this policy and pay your monies to you in line with your instructions.

IMPORTANT: When contacting us, please remember to state if future contributions are still to be paid into your AVC arrangement.

Drawdown/Flexible access - Fund value > £10,000

Please call our retirement hub on 0345 835 6644 to initiate this process.  The call handler will need to take some information and take you through a number of steps to allow Scottish Widows to settle your benefits.  We will also cover off the verbal legal declarations/agreements required to proceed.  Please be aware the drawdown vehicle is charged differently to your AVC arrangement.

Once the required information has been obtained and you are happy to proceed, we will write to your scheme trustees with a specific form for them to authorise the transfer from the AVC to the alternative pension vehicle (Scottish Widows Retirement Account) that facilitates the new pension flexibilities, specifically drawdown. 

Once this form has been completed by your scheme trustees, this will be sent to you for further completion and returning to Scottish Widows.  Once received, we will transfer your AVC policy in a Retirement Account vehicle which will then allow you to flexibly access your pension fund.

Please note this process will take 4 weeks from start to finish but could be longer depending on how long it will take for the form to be completed and returned to us.

IMPORTANT: When contacting us, please remember to state if future contributions are still to be paid into your AVC arrangement.

Tools and calculators

Our range of tools can help you throughout your Retirement Journey.

Years from retirement and nearing retirement

Retiring soon

  • Pensions Options Calculator – Calculate and compare your pension options – based on your pension pot
  • Tax Calculator – Get an indication of how tax might be deducted if you decide to take a cash lump sum

What next?

manage your pension online

  • Keep track of your pension
  • Change your investment choices
  • Change your contact details

Read our guide to online services

retirement Explained

  • Find out how much you should consider saving
  • Expert videos and calculators
  • Your options at retirement

Information

Contact us

Contact the Scottish Widows member helpdesk
0345 733 0804
9am–8pm weekdays
9am–1pm Saturday

After reading the literature within the links on this page, we recommend that you either save or print a copy and keep this safe for future reference. Please contact Scottish Widows on 03457 556 557 for a paper copy of any of the above literature. The literature and materials available here will be reviewed and updated from time to time. You should check back regularly to make sure you are using the most up-to-date version available.

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.

Scottish Widows is not providing you with advice on this site. If you have any queries as to whether this product is suitable for you, please contact your financial adviser.