Tower Transit
The new Scottish Widows App is available for download now. It allows you to see how much is in your pension and your recent payments, so you know if you’re on track. And it’s so easy to use. All you need to register is your National Insurance number and your pension number. If you don’t have your pension number, you can use your postcode.
The experts at the Pensions and Lifetime Savings Association have published a set of retirement living standard to help you picture your retirement and what it might cost. They are pitched at three levels, (minimum, moderate and comfortable) based on a basket of goods and services, from food and drink to holidays.
Financial wellbeing has never been more important. With many people’s finances under pressure from the rise in the cost of living, we’re committed to supporting you during these challenging times, and to help you take control of your finances. When we are on top of our money, we feel better.
Our Be Money Well site can help you manage your financial commitments and plan for the future you want.
The site also has a dedicated section to develop your digital skills and help you manage your finances online.
| Fund guide (PDF, 4MB) | This guide provides information on the different fund choices that are available to you. |
| Introduction to investing (PDF, 1MB) | This booklet explains the different types of investment choices available to you and how they work. |
| Your investment choices (PDF, 257KB) | This leaflet lists the pension fund choices that are available to you and the total annual fund charge for each fund. |
We may have provided links to documents and other information supplied by third parties (including your employer or scheme trustees, and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows.
| Helping You Prepare for Your Retirement (PDF, 1MB) | This guide gives details of the options available to you when you want to start taking your benefits. |
| MoneyHelper guide - Your pension: your choices (PDF, 2MB) | This guide, from the independent MoneyHelper, is also designed to give details on the options available to you when you start to think about taking your benefits. |
| Things to Think at Retirement (PDF, 62KB) | This leaflet provides information on the things to consider prior to taking your pension. |
| Your guide to flexible income (PDF, 306KB) | This guide explains the ways in which you can access your pension using the flexible income option. |
| Flexible income fund range (PDF, 255KB) | This guide is designed to give you an understanding of the funds you can invest in if you wish to take a flexible income. |
| Investment pathways: your guide to investment options for flexible income (PDF, 355KB) | This guide explains the investment pathways available to you if you decide to take a flexible income. |
We may have provided links to documents and other information supplied by third parties (including your employer or scheme trustees, and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows.
| Pension transfer guide (PDF, 232KB) | This guide describes the potential benefits of transferring existing benefits to your Retirement Saver and highlights some of the things to consider. |
| Transfer in form (PDF, 1MB) | If you decide to transfer please complete this application. |
We may have provided links to documents and other information supplied by third parties (including your employer or scheme trustees, and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows.
| Member guide (PDF, 6MB) | This guide should answer most of the questions you might have about your plan. |
| Key features illustration (PDF, 209KB) | This illustration shows our standard charges and how they could affect what you might get back. Your actual charges may be different from those shown, please see your personalised illustration for details of these. |
| Key features of your plan (PDF, 293KB) | This contains important information about your plan which you need to read. |
| Terms and conditions (PDF, 418KB) | This contains details of the terms and conditions of the plan. |
| Pension tax (PDF, 3MB) | This guide gives information on how your plan is affected by current tax legislation. |
We may have provided links to documents and other information supplied by third parties (including your employer or scheme trustees, and their advisers), who are solely responsible for their content and accuracy. All statements, views and opinions contained in these documents and other information are those of the third parties, not Scottish Widows.
Many employers provide a workplace pension for their staff. Workplace pensions can be a good option as most employers will also make a regular contribution to your pension.
Under automatic enrolment, there is a minimum total contribution that must be paid into your pension. The amount is set by the Government and is made up of your and your employer’s contributions, as well as tax relief on your contribution.
No matter how close you are to retirement, you still have time to boost your pension savings. You can top up your existing pension contribution by paying in a lump sum or increasing your regular contributions. The retirement benefits you receive 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.
You can find out more about your investment choices in the Key Documents section of the scheme infosite. You may want to review your current investment choice and be comfortable that these are still aligned to your attitude to risk. If you are still unsure what to do you could speak to a financial adviser to help you. Please note, you’ll need to pay for this.
Retirement calculators help you to understand what each pension option could mean to you. You can also explore how tax will be applied when taking all or some of your money out.
