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Scottish Widows: Pension reviews

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1.18
Based on 62 reviews, last reviewed 21st Mar 2025
No new 5 star reviews
in the past 90 days
100% decrease in 1 star reviews
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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
Jonny West's avatar
Jonny West

Latest lowest rating:

1

Everything was a struggle. Everything was a struggle. Two GDPR breaches. Still pending information on why the plan performance was so dire. Reviewed on: 21st March 2025
Emma B's avatar
Emma B
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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 (62)

Review of the Scottish Widows, Pension:

Scottish Widows incompetency

1
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
Peter R's avatar
Peter R

Distressing

1
I was persuaded by an advisor at Lloyds TSB to start a pension with Scottish Widows. At the time I could barely afford it but it seemed sensible to start saving for my pension. A couple of years later I was horrified to discover that there was now half the money that I had saved in the account. I was upset that money I had struggled to save had been halved. I stopped payments and rang Scottish Widows who told me that there was nothing that I could do about it as it was a risk I took when I took the policy out. In the great scheme of things it was a relatively small amount of money, but money that I could ill afford to lose. Reviewed on: 29th August 2015
cmr's avatar
cmr

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