Need help and guidance?
We can’t provide guidance or advice about how to take your pension savings, but a specialist can. Get help with finding the right help and visit our Guidance and advice page.
You are only eligible for this option if your plan is worth £10,000 or less and you haven’t encashed more than two other personal pensions in the same way.
This option is known as ‘small pots’ and they are designed so that members can get better value from lower value pension plans. Taking your cash as a ‘small pot’ will not use up your Lump Sum Allowance or Lump Sum and Death Benefit Allowance. Your annual allowance stays the same, but you must take the full amount from your pension plan.
Scottish Widows Platform
If you want to take your pension as a ‘small pot’ and you are a Scottish Widows Platform client, please complete the Drawdown Form, including section 8 and return to us at the postal address below:
Address:
Scottish Widows Platform
PO Box 24065
1 Tanfield
Edinburgh
H3 1EY
If you have any queries please contact us by telephone or e-mail
Email: service@scottishwidowsplatform.com
Customer Services Team: 0330 024 2345
You can access your account online at anytime.
Ready-Made Pension Customers
Please ensure you’ve read the information on the previous pages and are comfortable with your decision. If you’d like to take your savings as a small pot then you'll find a link to the form on the Ready-Made Pension page, and we'll be in touch once you've completed this. need to complete a short form by visiting the page below that's relevant to you.
Self Invested Personal Pension (SIPP) Customers
Please make sure you've read the previous pages and are comfortable with your decision. If you'd like to take your savings as a small pot, then you need to complete a short form. You'll find a link to the form on the Self-Invested Personal Pension (SIPP) page and we will be in touch once you've completed the form.