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.
If you’ve made a decision and would like to take your savings as single lump sum, or a series of lump sums, the first thing you’ll need to do is compare your options and make a decision on which is right for you.
These payments are known as Uncrystallised Funds Pension Lump Sum, or ‘UFPLS’. They are a single payment, or a series of single payments, made up of 25% tax free cash and 75% income, which is taxed at your marginal rate.
Scottish Widows Platform
If you want to take your pension as cash lump sums and you are a Scottish Widows Platform client, please complete the Drawdown Form, confirming your decision in section 7, and then returning it to us at the postal address below. On receipt of the form we will process payment of your benefits.
Address:
Scottish Widows Platform
PO Box 24065
1 Tanfield
Edinburgh
EH3 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.