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Scottish Widows: Pension reviews

Name: Pension
Rating: 1.26 (61 reviews)

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1.17

Based on 61 reviews, last reviewed 12th Feb 2025

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

4 star

3 star

2 star

93%

Latest highest rating:

5

Great customer and digital services Switched all my pensions to my workplace pension with Scottish Widows. Such a smooth process, I was kept well informed throughout. Their app is great,... Read more Reviewed on: 12th January 2022

Latest lowest rating:

1

Scottish Widows incompetency I have been in dispute with Scottish Widows since 2020 over the extremely poor performance and management of the company Pension fund in relation to o... Read more Reviewed on: 12th February 2025

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About this product

Scottish Widows pension reviews written by Smart Money People like you. For many of us, our pension is an important part of our financial future. Finding a pension provider that you can trust and rely on is a must for many people. Take a look at our Scottish Widows pension reviews to find out what life at Scottish Widows is really like. If you hold this pension, we'd love you to write an honest review here too!

Scottish Widows Pension reviews (61)

Review of the Scottish Widows, Pension:

Scottish Widows incompetency

I have been in dispute with Scottish Widows since 2020 over the extremely poor performance and management of the company Pension fund in relation to other pensions over a similar period. If you have a Company pension scheme with Scottish Widows, I strongly suggest you ask some questions on the performance, carry out a performance review plus administration charges soon. To Give you an idea, my pension pot bombed by nearly £20k in 2 years. From experience, the pension pot is moved to a safer “lifestyle” policy, these are a “bonds” based investment which have also bombed. Scottish Widows, when you look into the scheme are “Advisors, Administrators ” and Trustees”. (How that works I do not know) all taking a fee from your pension pot one assumes. Scottish Widows will not reveal what these charges are which depletes your pension pot. Be assured your pension needs to perform well, it will not be long before Pensions are means tested. There is a Scottish Widows Complaints Platform set up on Facebook which highlights issues others have had and some guidance. Do not be “fobbed off” by “it’s the markets” Reviewed on: 12th February 2025

Robbing over payed investors

Lost 40K from April 2021 till today, All my hard work which I could off invested better and I haven’t got degrees in business like these muppets. If an investment is not performing why keep throwing money into it . Reviewed on: 6th March 2023

Very poor pension fund performance

Lost 25% of my pension fund over the last 3 years, and it's still going down even though all of my other pensions are now recovering. I didn't have any choice in using Scottish Widows (company pension), would certainly not recommend them to anyone Reviewed on: 1st March 2023

Pretty useless

FTSE at a record high very recently, and my pension has dropped about 9 grand over the last 6 months ... Very poor performance by Scottish Widows .. Pension struggles to go up as stock market rises, then drops like a ton of bricks when the market falls a little .. Very disappointed !!! Reviewed on: 24th February 2023

being fleeced

fund constantly dropping going to have to draw it out before it is worthless Reviewed on: 24th February 2023

Very disappointed

Have lost more than 20 per cent of my savings in the so called 'Pension Protector' fund - I can't think of a worse name for a fund. Reviewed on: 21st February 2023

Awful in every way!

Appalling customer service - no actual help just passed around ‘department s’ for hours. People from the ‘back room’ who apparently can actually help never call back. They have taken huge amounts of money and no explanation given. I think it’s being used to fill the black hole of funds they’ve lost through mid-management. I’ve written but no response. The ombudsman will have another call today. Please move your pension if you can - I think this shop is sinking! Reviewed on: 1st February 2023

Value rises a little and then drops like a lead brick

I have been watching my pension lately as retirement is getting closer. I am just a few pounds better off now than I was 8 months ago. The payments go in, the pot drops. Its goes up a little, then the pot drops. If I add up just the payments in over 8 months I should be £4000 - £5000 better off. I am not. It has increased in value recently by £1200. I am still out of pocket. Seriously considering just paying it into a high interest account. I am willing to bet Scottish Widows are still taking their fees for loosing me money. Reviewed on: 25th January 2023

Poor communication, website not interactive

The scheme currently run by Scottish Widdows is not fit for purpose, the website is poor to access and to navigate, gives no control to port funds, the phone line is constantly busy and just passed from one operative to another, we will be moving our fund as soon as possible Reviewed on: 24th January 2023

LOST MY MONEY

RANG UP WAS PASSED AROUND WAS ON THE PHONE FOR 2 HOURS AND STILL COULD NOT FIND MY PENTION MONEY A JOKE Reviewed on: 20th January 2023

Scottish Widows MERRY GO ROUND

Dreadful Customer Service . Long waits on phone then you don't get any where because THEY DON'T KNOW WHATS GONE WRONG, BUT THEY'RE VERY SORRY!!! Passed from dept to dept, complaints fall on deaf ears , IF YOU EXPECT TO GET YOUR PENSION PAID OUT DON'T TRUST THIS COMPANY Reviewed on: 11th January 2023

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