It pays to know your pension

The average retirement age in the UK is 65, yet last month alone there were almost 50,000 searches about retiring early.

See how getting to know your pension better can help you take control of your retirement.

Check your pension now

Whether your pension is with us or another pension provider, we explain how you can check your pension and what to do next.

Have a pension with us?

If you have a Scottish Widows workplace pension, download our app to check your pension. 

For all other Scottish Widows customers, you can check your pension via our Online Services. 

Online services

Have a pension with another provider?

If your pension is with another provider:

  1. Check their website for details on how to check your pension.
  2. If you are unsure who your provider is, ask your employer.
  3. Visit your providers website to check how to get set up.

Locate your annual benefit statement as this will contain the information you need to register for your providers online services.

Statistically, people who regularly check their pension retire sooner

Robert Cochran

We partnered with YouGov and found a statistically significant difference in retirement age between the people who regularly checked their pensions and those who didn’t   

Our pension expert Robert explains this in more detail and how actively managing your pension helps give you a better chance of achieving your retirement goals.

It pays to know your pension

Getting to know your pension helps puts you in control of your money. See what you could do with your pension right now from tracing past pensions to making your money easier to manage.

Boost your pension by £192,000

Boost your pension by £192,000

People who start saving into their workplace pension at age 22, rather than age 28, and save the recommended 12% rather than the minimum 5% of their salary could boost their retirement pot by £192,000.

See how it works (PDF, 800KB) Opens in a new tab.

Track down lost pension pots

Track down lost pension pots

There are 2.8 million lost pension pots in the UK, each worth an average of £9,500*. It’s easy to track down lost pensions and it could give your savings a boost.

* Source: Association of British Insurers 2022

Get started

Combine your pensions

If you have more than one pension then combining them into one pension pot could save you time, money and make things easier to manage.

Check if your pension is on track

We have a range of useful tools to help you check if your pension is on track.

Scan the image to look in our pension mirror

Take a look in our pension mirror

First we’ll guess your age, then show you what people the same age have saved in their pension. This could help you check if your pension’s on track.

Start now Opens in a new tab

Is your pension on track?

Answer four short questions to see when you could retire and what you might look like when you get there.

Check now

Tools and calculators

Tools and calculators

Our pension calculators let you see what impact changing things like your contributions or retirement age, might have. 

Try our tools and calculators
Scan the image to look in our pension mirror

Take a look in our pension mirror

First we’ll guess your age, then show you what people the same age have saved in their pension. This could help you check if your pension’s on track. Scan the image above using your mobile phone.

Is your pension on track?

Answer four short questions to see when you could retire and what you could look like when you get there.

Check now

Tools and calculators

Tools and calculators

Our pension calculators let you see what impact changing things like your contributions or retirement age, might have. 

Try our tools and calculators

Ready to check your pension?
What to check - checklist

Getting to know your pension can feel daunting but our helpful checklist shows you what to check and what changes you can make.

 

  • Knowing what you contribute now, what it’s worth and what it might be worth in the future can help you check if you’re on track for the retirement age you want. Watch our films to find out more.

    Our experts help you understand if your pension is on track and what you should be considering.

     

    Is my pension on track? Is it enough?

    How much should I save for retirement?

  • It’s good to understand where the money you save into your pension is invested. We have lots of useful content to help if you want to learn a bit more about investing.

    Visit our investment essentials page

  • This information should be on your annual benefit statement but if you're unsure you can speak with your employer.  They will be able to confirm how much they take from your salary each month along with the amount they contribute on your behalf.  It’s worth remembering you’ll also receive tax relief on the payment you make, up to the limits set by the Government.

  • It’s easy to lose track of your pension so it’s really important to keep on top of simple pension admin, like nominating beneficiaries (who you’d like your money to be left to) and making sure your contact details are up-to-date.

    If you’re a Scottish Widows customer you can do this via our online services.  If not you can check with your provider.

Pension Engagement Season logo.

It’s Pension Engagement Season

There’s no better time to start checking your pension than now as its officially Pension Engagement Season. Find out more about this year’s Government led campaign.

For answers to your pension questions and more visit our pension hub or follow us on social media.

Pension hub

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