Transfer now

First, let’s check that you’re ready to combine your pensions.

I’m an existing customer

If you have a pension with us already, it’s easy to transfer your other pensions into your chosen plan.

Let’s get started

I’m a new customer

If you don’t have an existing pension with us, you can set up and transfer into a Scottish Widows Retirement Account.

Learn about Retirement Account

Don’t know?

If you’re not sure if you have a pension with us, we’re here to help. Call us on 0345 608 0380 from Monday–Friday 9am–6pm.

Check you can do this

We want to make sure you’re eligible to transfer your pensions to us and have all the information you need to make an informed decision. So, before you continue, please check that you agree with the information below, as some of this will form part of your contract with us.

I’m eligible

  • I have a Scottish Widows pension
  • I’d like to transfer a pension with a UK provider
  • I’m under 75.

I understand what transferring means

  • I’ve compared my pensions and I understand which plans I’d like to transfer
  • I’ve read ‘Can I do it?’ and ‘Is it right for me?’
  • It’s my decision to do this
  • I’m aware that this service doesn’t include financial advice.

I’m transferring suitable pensions

  • My employer is NOT currently paying into the pension I want to transfer
  • The pension I want to transfer is NOT:
  • I’m NOT:
    • taking an income from the pension I’m looking to transfer
    • transferring a pension from outside the UK.

I understand what will happen once the transfer starts

  • Scottish Widows won’t charge me to transfer. However, my previous provider may ask for a fee (known as an ‘exit penalty’).
  • Money from the plan I transfer will normally be invested in the same way as my existing pension. I can change this at any time. To review my investment options, I can look at my annual statement.
  • Once the transfer is complete, my previous pensions won’t exist anymore.

I have the right to change my mind

  • If I change my mind about transferring my pension, I’ll tell Scottish Widows within 30 days of receiving my confirmation documents in the post. Scottish Widows will have to return my pensions to my previous providers.
  • I understand that my previous providers may not accept my pensions back after I leave, so I might have to set up a new policy.

If I’m transferring a Lloyds Banking Group pension:

  • The value of my plan is taken one working day after Scottish Widows accepts the request.
  • I understand that if my pension has protected tax-free cash and (or) a protected retirement age, I will give up these features. Scottish Widows will contact me to confirm that I want to go ahead and will not process the transfer until I agree.

If I used a financial adviser to set up my Retirement Account:

  • My Retirement Account doesn’t use self-invested options.
  • The financial adviser might receive an on-going adviser charge. I understand that, if I transfer more money into my Retirement Account, this may increase how much I pay my adviser. I should talk to my adviser for more details.

I have my details ready

I know the policy number of the Scottish Widows plan I want to transfer into and my National Insurance number. And, for each pension I want to transfer, I have the:

  • Policy number
  • Pension provider’s name
  • Scheme name (if it’s a workplace pension)
  • Transfer value.

What type of pension do you have with us?

A workplace pension

Also known as a ‘group personal pension’, ‘group stakeholder pension’ or ‘occupational pension’. A workplace pension is a plan that’s set up by a current or past employer, which normally both you and your employer pay into.

Transfer into your workplace pension

A Retirement Account

This is a type of personal pension which allows you to save for your retirement, take money from your pension, or both. To confirm if you have a Retirement Account, check your statement.

Transfer into your Retirement Account

A personal pension

This is a type of individual plan which you’ve set up in the past. Normally, only you contribute to this pension.

See your pension transfer options