Investing your pension?

When you open a Retirement Account with Scottish Widows online, they take out the hassle of choosing individual funds and have designed investment choices to suit you. The first thing you need to think about is how you feel about the risks associated with investing – are you a cautious, balanced or adventurous investor?

If you’re not sure of your risk appetite or how to take your pension at retirement, you can choose the default option. This is a balanced Governed Investment Strategy (GIS) that targets flexible access at retirement. This could suit a typical customer and reflects what we most commonly see in terms of risk appetite and retirement options. The default strategy is not personalised to you, and it may not meet your needs at retirement, so please consider this when making a decision about your investment options.

If you’re unsure what to choose, you can always seek financial advice. There will be a charge for this service.


What are the options?

The below table shows you how each Governed Investment Strategy (GIS) could potentially perform and whether it is right for you. A GIS is a type of investment that automatically adjusts how your pension is invested over time, gradually moving into lower risk funds as you get closer to your retirement.

Investment choice

How your pension pot could perform

Investment choice

Cautious

You’re cautious with your investments and don’t feel comfortable taking much risk with your money.

How your pension pot could perform

  • You can expect your pension pot to have some ups and downs in value. While there’s potential for some growth, there’s also potential for some losses.

Investment choice

Balanced

You’re a balanced investor and feel comfortable taking some risk with your money for, potentially, more reward.

How your pension pot could perform

  • You can expect your pension pot to go up and down in value. While there’s potential for growth, there’s also the potential for losses.

Investment choice

Adventurous

You’re an adventurous investor and feel comfortable taking high risk with your money for, potentially high rewards.

How your pension pot could perform

  • You can expect your pension pot to have a lot of sharp ups and downs in value. While there’s potential for high growth, there’s also potential for significant losses.

Default option

Our default investment strategy is a balanced Governed Investment Strategy (GIS) that targets flexible access at retirement.

 

How your pension is invested?

Depending on how you feel about the risk you want to take, they will invest your pension in one of their Governed Investment Strategies.

Governed Investment Strategies are the only choice available when you apply for a Retirement Account online. If you would like to look at other options for investing, you should seek independent financial advice. If you don’t have a financial adviser, you can find one here. Please be aware you will be charged for this service.
 

Your questions answered

A GIS is a type of investment that automatically adjusts how your pension is invested over time, gradually moving into lower risk funds as you get closer to your retirement. 

Get more details about how your money is invested, download the guide (PDF, 1.2MB).

Young couple siding on canal boat

Want more detail?

Don’t forget investments can go down as well as up, so if you want more information on how your money is invested then please read the guide below

Investment guide (PDF, 1.2MB). Opens in a new tab


If you don’t feel comfortable making an investment choice yourself, you can speak to Scottish Widows or a financial adviser, or you can speak to an Independent Financial Adviser. Bear in mind Financial Advisers will charge for the Advice they give.
 

Before you start

If you’ve decided that transferring is right for you and learnt about how your pension can be invested, you now need to understand your retirement options. This will help you complete the application form.

More about taking your pension

Ready to transfer?

If you’ve already reviewed and decided transferring is right for you and read about your investment and retirement options you can start the application. You’ll need the following:

  • Your National Insurance number
  • Your existing pension providers name
  • The policy numbers of each pension you want to transfer
  • The Scheme name if it’s a workplace pension
  • A recent transfer value for each pension
  • You know how you want to invest and access your new pension

Please confirm:

  • The pension(s) you wish to transfer have a total value of more than £10,000

You’ll need these to complete your application so come back when you’ve got them to hand.

We're sorry, but you're not currently eligible to transfer your pension with us.
 


Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).