MASTER YOUR PENSION
Perhaps you already check your pension regularly, and you're familiar with the basics and how your pension works. Either way, you're confident when it comes to understanding your pension. We're here to help you take it a step further and show you how you can master your pension to feel even more in control of your future.
Not quite ready to master your pension? If you'd rather start with the basics, visit the Understand your pension page instead to get started.
HELPING YOU MASTER YOUR PENSION
Ready for a more in-depth look at your pension? Maybe you're looking to review your investments, combine pension pots, understand your options at retirement, or access wider financial wellbeing support? We'll show you how you can master your pension to feel even more in control of your future.
1. HOW CAN I MASTER MY PENSION ONLINE?
No doubt you already know how much you've got in your Scottish Widows pot, but you might not know how to get the most out of our app yet. Our app is the easiest way to check and manage your Scottish Widows pension. Download the app on your phone and we'll show you how you can make the most of it in the video below, including how to review your investments and combine previous pots.
If you don't already have the app, you can download it from the App store or Google Play. Scan the code to download now.
You can also manage your pension through your online services.
2. HOW DO I KNOW IF I'LL HAVE ENOUGH?
Knowing how much you'll need for retirement is a complex balancing act that you've probably already weighed up.
Research by the Pensions and Lifetime Savings Association (PLSA) states that you'd need at least £12,800 to live on each year to cover your basic needs, at least £23.300 a year for a moderate retirement and at least £37.300 a year for a comfortable retirement with greater financial freedoms. Now could be a good time to review your pension savings to see if you're on track for the retirement you want by using our tools below.
*PLSA Research 2022
Videos
These videos will help you gain a better understanding of pensions
Should I continue paying into my pension during times of uncertainty?
What markets conditions in 2023 could mean for your pension investments
What is environmental impact investing?
What happens to my pension during a recession?
Should I postpone my retirement to give my pension investments a potential chance to recover?
Do I need a Financial Adviser?
My retirement is on track, what should I do next?
What is the Gender Pension Gap?
I am worried about my investment falling
