Retirement Account is a plan for life and gives you the freedom to pay into your pension and take it in a number of ways when you retire.
How you can take your pension
Unlike some other pensions, Retirement Account offers a range of ways to take your pension when you retire.
If you have an existing Scottish Widows pension and are planning to take your pension or any tax-free cash in less than a year from now,call us to discuss your options.
If you don't already have a pension with us, you can set up a Retirement Account online. We will contact you as you get close to retirement, and our dedicated team will be available to help answer any questions you may have along the way.
How it works
Retirement Account is designed in two parts so you can pay into your pension (Retirement Planning) as well as take an income when you retire (Retirement Income). We have a dedicated team who have helped guide 20,000 customers through their retirement and will be there to support you every step of the way.
Planning for your retirement
You can usually access your pension savings when you reach 55 (this will rise to 57 in 2028). But that doesn't mean this is the right option for you.
You might want to keep working but reduce your hours or go part time. If so, you could leave your pension savings invested until you are ready to retire.
