Everyone needs a plan for retirement, and now that you’ve been automatically enrolled into your Group Personal Pension (your workplace pension) it’s a great way for you to prepare for the retirement you want. When you start paying in, your employer will also start paying in. This site is designed to help you understand your pension and your Retirement Journey.
Read all the literature below to understand more
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 page can help you think about things that you should do whether you’re years from retirement or retiring soon.
These days most people have had a number of different jobs and collected a few different retirement savings pots. With Scottish Widows you can bring all of them together to make it easier to plan for your retirement, you may even be able to reduce your annual management charges and improve the range of investment choices available to you.
We can provide a pension transfer service for most transfer scenarios. See our transfer process for more information about this service and for some things to consider before deciding to transfer.
Your employer will give you details of the default investment option they’ve picked for your pension. You have the option to change your investment choice after the first contribution has been made.
Your options are:
Guidance to making your investment choice
Our range of tools can help you throughout your Retirement Journey.
Years from retirement and nearing retirement
Scottish Widows member helpdesk
0345 755 6557
Open 8am to 6pm weekdays
If you don't want to join your employer's workplace pension scheme at this time, you can opt out after you have been automatically enrolled.
Before you take the decision to opt out please read the information provided in your enrolment letter on ‘How to opt out’.
If you wish to opt out of the Group Personal Pension and have received an enrolment letter with a unique reference number you can do so by completing our Online Opt Out Form. Alternatively you can download a copy of our Opt Out Form and send it to your employer. A paper copy of the Opt Out Form can be requested by calling the Scottish Widows Helpdesk on 0345 755 6557.
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.