Write a review

Scottish Widows: Pension reviews

Name: Pension
Rating: 1.24 (66 reviews)

View other Scottish Widows products

1.14

Based on 66 reviews, last reviewed 31st Aug 2025

No new 5 star reviews

in the past 90 days

300% increase in 1 star reviews

in the past 90 days

4 star

3 star

2 star

94%

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

58% loss in Scottish Widow's P.ension I have lost 58% of the value of my Scottish Widows Pension in the last 5 years, and in writing Scottish Widows have advised they see no issue with the... Read more Reviewed on: 31st August 2025

Read all reviews See your review

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 (66)

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

Shockingly poor performance

My policy has gone down in value by over 20%. Some of it was invested in Pension Protector which has performed very badly. I spoke to a customer services rep and there are no plans to review it. very poor. Reviewed on: 15th July 2022

Won't give me my money

I've tried a number of times over the years to cash in this policy, worth maybe £5000. They kept putting obstacles in the way, but this year I've followed it all the way through, and they just won't pay out. AVOID AT ALL COST! Reviewed on: 8th July 2022

Worst company ever

No one has product knowledge, no one takes responsibility all blaming another "team' nor do they believe in time scales no one is capable of using a phone to make promised call back. I have spoke to a lot of people and all say something different most of it completely fabricated rubbish. Two months since requesting a drawdown on pension I am still waiting for funds. Reviewed on: 29th June 2022

Pension Ponzi Scheme - Scottish Widows steals pensions

Work placed pension switched from Fidelity to this thieving company in April 2021. Since then Scottish Widows has stolen 37% of my contributions and overall my pension pot is 10% down in one year. Please do not use this company for a pension. If you do you will find you have far less after giving them money. Utter criminals Reviewed on: 23rd June 2022

Scottish Widows are shockingly bad

I'm 56 and I was considering drawing down some funds this year. I had planned and hence I moved my Scottish Widows Uk stock market tracker pension to their balanced and supposedly lower risk Pension Portfolio 2 and 4 Series 2 in Nov 21 trusting those clever SW manager folk (led by Philip chandler) to protect the pension pot I had with them. Now in May 2022 they have lost a £1000 a week in their lower risk funds -??? I have complained to Scottish Widows who responded Brexit has impacted fund values (sorry I do not accept from Nov 21 to May 22 brexit has caused them to lose my fund £1000 a week from their managed balanced and lower risk funds what a ridiculous response) So I have complained now to the Ombudsman. Will update with any developments but my view is do not go near Scottish Widows as a pension manager. See update above I am hoping to meet my local MP next two weeks to raise these concerns Reviewed on: 22nd May 2022

Pension lost 8%

I have 2 pension pots my large one is with the Prudential which is still performing at around a 4.8% return. My second pension pot is the smaller and with Scottish Widows. This is currently returning a loss of around -1.9% and has caused me to lose slightly over 8% in the last 4 months. So glad that the Scottish Widows pension is only a small one and not one on which I rely. Reviewed on: 4th May 2022

DONT USE THEM

Move a pension to them , everytime i need to take to them it takes a hour waiting for someone to answer , today i spent 45 minutes waiting , agent answers , then asks a few questions and dumps me back in the queue for another 20 minutes then call ends . Disgrace you should be ashamed , last straw for me im moving my pension Reviewed on: 8th April 2022

Frustrating

Would have been quicker to paint forth bridge than get pension out Reviewed on: 3rd April 2022

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, showing me what I need to know and providing thorough information on financial wellbeing. Feel like they are going above and beyond to help people help themselves. Reviewed on: 12th January 2022

Great Eco Product

I got pension 25 years ago and it slowly rose in value, with climate change it surged nearly 25% this year. Ethical investing pays. Reviewed on: 9th October 2021

Are you a business? Get insights, reply to reviews, invite customers and understand their needs

Alternative products

Pensions
from True Potential Wealth Management 4.89 from 73 reviews
Self-Invested Personal Pension
from Wealthify 4.86 from 442 reviews
Personal pension
from Moneybox app 4.97 from 200 reviews

Join Smart Money People

Keep up to date on ratings of your favourite businesses. Find out about our awards and write new reviews with ease

Create an account

News, guides and insight from our team

View resource hub