Is it right for me?

What to think about before you transfer pensions.

It’s a good idea to compare the pensions you’re looking to transfer with the one you want to transfer them into. This means you can make an informed decision and get the best deal for you.

If you transfer pensions to us, it will be into your existing Scottish Widows workplace pension or your Retirement Account. If you don’t have either of these, you’ll need to set up a new Retirement Account. You can do this over the phone or start your application online.

Before you compare, you will need…

Your existing policy documents

These are usually sent in the post or by email when you set up the pension.

Details about your pensions

Send this letter to your current provider or use it to talk to them over the phone.

Letter to your provider

Use our comparison checklist

Use this checklist to see if transferring your pensions to us is the right thing for you.


Look at the charges you pay for managing your existing plan and compare them with ours to see whether you're paying more, or less.


Check the features your pension has. For example, a workplace pension or Retirement Account from Scottish Widows allows you to:

  • track your transfer status with text alerts to your mobile phone
  • switch how your money is invested, without charge
  • talk to our UK-based customer service team.

Exit fees

Your current pension provider may charge you a fee (known as an ‘exit penalty’) for transferring to us.

Don't forget

Any protections, guarantees or other valuable benefits

Consider the valuable benefits and features you might have that you would lose if you transfer your pension to us.

Not sure what these are? Go back to Can I do it?

The way your pension is invested

Your transfer payment will be invested in the same way as your current workplace pension or Retirement Account investment options. You can change the way your pension is invested at any time.

Because this service doesn’t include financial advice, you’re responsible for finding out if your pensions have valuable benefits you could lose. We can show you information that will help narrow down your choices, but we won’t tell you what to do or which option to take. The decision is yours.

If you’re not sure, talk to a financial adviser.

If it’s right for you, you’re ready for the next step.

Transferring guide

All you need to know about transferring your pensions to us.

Download our guide

Your money, your choices

Look at the options you now have to take your retirement money once you reach 55.

Taking your money

Pension Tracing

If you need to find a lost pension, you can search on the Government's website or contact the Pension Tracing Service for help.

Find a pension