Scottish Widows was set up in 1815 to take care of women and children who lost their fathers, brothers and husbands in the Napoleonic Wars, taking its name after the people it was founded to look after. Now more than 200 years on, it looks after almost 6 million customers across the UK, offering a range of services including workplace and individual pensions, annuities, life cover, critical illness, income protection, savings and investment products.
SIPP Retirement Account
The Scottish Widows Retirement Account offers a large range of investment choices, depending on your retirement goals, how you plan to take your pension savings and how much risk you want to take. It gives the flexibility to save and take your pension savings when and how you choose. You will normally get tax relief on the payments you make, with up to 25% tax-free. You have to be age 55 or over to do this.
Scottish Widows also offer a range of services including workplace and individual pensions, annuities, life cover, critical illness, income protection, savings and investment products.
Scottish Widows Reviews and Ratings
Online reviews for Scottish Widows are very bad with users complaining that the company is difficult to deal with and hard to get in touch with, customers treated poorly and customer service being appalling. One reviewer even called them ‘shameful and fraudulent’.
Trust Pilot – 1.5/5 (based on 155 reviews)
- A popular and well-known brand name
- Long established since 1815
- A large range of related financial services available
- Good product explanations and supporting information available on their website
- Helpful quick links and specific departmental phone numbers available for all products
- View all transactions online and keep track of how your investments are performing
- A simple and clear charging structure
- Tax relief on payments
- Very bad customer reviews and feedback
- Multiple reports of customers being treated badly and the company hard to get in touch with
- Poor customer service levels
- A large website but with information that is difficult to navigate and understand
- Limited product information on the website
- Offices and telephone lines not open on weekends
Website: Scottish Widows