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Scottish Widows – Retirement Account: Retirement Income

Scottish Widows

Retirement Account: Retirement Income

Type: Unsecured personal pension

Minimum investment: Lump sum £10,000 provided at least £50,000 is already invested in the Retirement Planning element of the plan, £37,500 for transfers from other drawdown plans

Minimum-maximum ages: 50-74

Investment choice: Scottish Widows pension fund range of 37 internally managed and 26 externally managed pension funds from eight fund management groups, 1,000 funds through fund supermarket, choice of four discretionary fund managers, commercial property

Income frequency: Monthly, yearly, single and transfer payments

Charges: Service charge 0.1-0.7% a year depending on value of investment, investment charges – Scottish Widows pension fund range 0.1-1.1% a year depending on fund, fund supermarket range 0.1-2% a year depending on fund, discretionary fund managers 0.5-0.8 % a year depending on manager and amount invested plus additional charges for underlying investments, commercial property management charge 0.1-1.25% a year plus additional costs

Commission: Subject to negotiation between adviser and client



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