Proposed transfer

Proposed transfer of Zurich's workplace pensions and savings business to Scottish Widows

On 3rd April 2018, Zurich’s Master Trust and Retirement Saver workplace pensions and savings business moved to Scottish Widows. Zurich wrote to affected customers and scheme members at that time to let them know about this change. These Plans are now being provided and administered by Scottish Widows. However, they continue to invest in insurance funds operated by Zurich.

Zurich and Scottish Widows are now proposing to transfer the majority of Zurich’s remaining workplace pensions and savings business to Scottish Widows on 1st July 2019. We refer to this as the ‘Transfer’.

The Transfer is subject to approval by the High Court. If approved, it will mean the majority of the Zurich insurance funds available to Retirement Saver and Master Trust Plans will move to Scottish Widows.

To help you understand the Transfer, we have:

  • A Planholder Guide – this is the best place to start if you want to know what’s involved
  • Legal reference documents which can be found in our library
  • A set of Questions & Answers
  • Details of how to contact us if you have a question or would like to raise a concern or make an objection.

 

Is your Plan transferring?

No, your Plan is already provided and administered by Scottish Widows. If the Transfer is approved by the High Court it will mean the majority of the Zurich insurance funds that are currently available to Retirement Saver and Master Trust Plans will move to Scottish Widows. We expect the Transfer to complete on 1st July 2019.

If you took out a Retirement Saver Plan or joined the Master Trust on or after 3rd April 2018, you were automatically set up as a Scottish Widows customer.

What information will I receive?

From 18th February 2019, we’ll be writing to Scottish Widows Retirement Saver customers and Scottish Widows Master Trust members to explain what the Transfer means for them. In the meantime, you can find more details about the Transfer on this website.

Zurich is also writing to its customers about the Transfer.

Any questions?

If you’ve received a letter about the Transfer and are unsure or, have any questions, you can contact our dedicated team.

If you have a general question about your Plan, please get in touch using the usual contact number. Please have your Plan number to hand when you call.

View all documents relating to the Transfer.