Scottish Widows Stakeholder Pension
Start saving toward your retirement now
Scottish Widow’s stakeholder pension is a low cost, flexible option for those wishing to save toward their retirement.
For arranging your Scottish Widows stakeholder pension CommShare will charge 0.2% p.a. fund based trail commission. Although we take a small percentage each year, this could actually decrease your annual management charge.
We say "could" because Scottish Widows will only pay commission if the regular premiums are more than £150 gross p.m. or if the single gross premium and / or transfer values are more than £5,000 at outset. If you plan to save more than these amounts, the effect of taking 0.2% p.a. fund based trail commission will reduce the annual management charge from 1% to 0.75% on single / transfer payments and from 1% to 0.93% on regular premiums. Applying through CommShare could save you as much as 0.25% p.a. than applying direct with Scottish Widows.
If you are planning to save less than these amounts you may wish to have a look at the other stakeholder pensions CommShare is currently offering.
| |
Annual Management Charge Per Annum |
| You invest |
Direct -
Paper Application |
Direct -
Online Application |
Direct -
Via CommShare |
| £0 - £5,000 |
1% |
1% |
N/A* |
| £5,000+ |
1% |
1% |
0.93% for regular premiums & 0.75% for transfer and single payments |
* CommShare can only arrange commission paying pensions. Scottish Widows will only pay commission on pensions where the initial contribution is at least £100 per month or a single / transfer contribution of £5,000 is made.
Main features of the Scottish Widows stakeholder pension:
| Minimum Age |
None |
| Maximum Age |
75 |
| Minimum term |
Benefits must be taken at 75 |
| Minimum Payment |
£20 gross / £16 net |
| Payments - minimum automatic annual increase |
5% |
| Payments - maximum automatic annual increase |
20% |
| Number of funds |
50 |
| Online access |
Yes |
Download Scottish Widows Stakeholder Pension Application Forms and Key Features
You can establish a new Scottish Widows pension by paper application with regular premiums from £150 gross p.m. and /or a single gross premium or transfer value(s) of £5,000+.
First, please make sure you read CommShare’s Key Facts document and Terms of Business.
Alternatively, request a Scottish Widows Stakeholder Pension application pack by post – click here
Please send your completed application forms to CommShare, using our FREEPOST address. If you send them directly to Scottish Widows they will establish your pension on a direct basis and the annual management charge on your plan will not be discounted.
Transfer existing pensions into your Scottish Widows stakeholder pension
You can transfer the following types of pensions into the Scottish Widow stakeholder pension via CommShare.
| Other Stakeholder Pension Plans |
Free Standing Additional Voluntary Contribution Plans (FSAVCs) |
| Personal Pension Plans |
Paid up Group Personal Pensions or Group Stakeholder Pensions |
| Retirement Annuity Contracts (RACs) |
Self Invested Personal Pensions |
You cannot transfer occupational pensions into the Scottish Widows stakeholder pension via CommShare and will need to seek appropriate advice from a qualified financial adviser if you wish to consider transferring benefits accrued in occupational schemes. These include:
| Some Additional Voluntary Contribution Plans |
Occupational Money Purchase Pensions (CIMP / COMP) |
| Executive Pension Plans (EPPs) |
Defined Benefit Schemes (Final Salary Scheme) |
If you are unsure as to whether your existing plan is a personal or an occupational plan, please contact us and we will be happy to help you.
You will also need to find out whether there are any transfer penalties on your existing pension, as these can sometimes be prohibitively high. Second, make sure that you will not lose any valuable benefits, such as guaranteed annuity rates or guaranteed investment growth rates, by transferring away from your existing arrangement.
Once you have decided that you are happy to transfer your pensions, we can arrange for all of the correct paperwork to be sent to you. All you will need to do is sign and return the transfer forms to us along with your application forms in a FREEPOST envelope.
A word of warning: Please note that once you have transferred your pension, especially if it is more than a few years old, you will probably not be able to transfer your fund back into the same pension with the same company.
How to switch between your Scottish Widows Stakeholder Pension funds
If you want to switch between your Scottish Widows stakeholder pension funds online login or register here.
Remember: that you cannot withdraw funds from your pension until you retire, the earliest you can retire and take benefits from a pension plan is currently 55. A pension is a long term investment and the funds held in your pension may go down as well as up. Remember tax reliefs may change depending on legislation and/or your personal circumstances. We are unable to offer you advice and if you are at all unsure, you should seek personal advice from a suitably qualified financial adviser.