How to apply
HOW TO GET A QUOTE
If your client is new to Scottish Widows, you can now request annuity quotations via a portal.
On some cases, we may return an indicative quotation and additional information will be required for a guaranteed quotation. If you've received an indicative quotation, please email the Quotation Number, a completed Retirement Health Form and any other supporting medical information to email@example.com or contact us on 0345 845 0099. We recommend that you send this information to us securely via PGP encryption or have a TLS connection in place with us.
IS YOUR CLIENT NEW TO SCOTTISH WIDOWS?
If you are already set up with one of these portals you will be ready to quote for a Scottish Widows Standard or Enhanced Annuity.
- Register with IRESS
- Register with iPipeline
- Register with AMS
- Register with Synaptic Webline
- Register with Retirement Line
IS YOUR CLIENT AN EXISTING SCOTTISH WIDOWS CUSTOMER?
Standard and Enhanced Annuity quotes are available through the portals.
Alternatively, we can provide you with a Standard Annuity quote over the phone.
Please call 0345 716 6777 for a quote.
HOW TO APPLY
Quick Checklist Before You Proceed
Before you apply
Check that you have used the correct quotation. There are two options:
An Immediate Vesting Personal Pension (IVPP), for uncrystallised funds which can include the consolidation of multiple pots. Uncrystallised pots from different schemes can only be combined via an IVPP.
An Open Market Option (OMO) - via a single pot that has already been crystallised, any tax free cash taken and a Lifetime Allowance check completed by the ceding scheme.
OMO Additional Information
Under an OMO, funds from different pension schemes cannot usually be combined and must be set up as separate annuities. In this instance, we will need a separate quotation and application form for each individual pension scheme.
It’s important to note that multiple pension pots cannot be combined into an OMO unless they are from the same pension scheme tax reference number. In this instance, you can produce one quotation and complete an additional copy of Section D (Your Current Scheme or Policy) of the application form for each separate pension plan or arrangement you wish to include in the application.
Before proceeding to the application you should ensure that your client has been provided with:
- a copy of our Key Features (PDF, 150KB)
- a discussion about payment for services or advice.
What you need to apply
- Confirmation from the client of their consent to any Adviser charges.
- Discharge papers from transferring company, if applicable.
- Completed lifetime allowance form (PDF, 854KB) (where your client is age 75 or under).
- Trustee, administrator and member signature (as applicable).
Please return completed forms to:
Scottish Widows Limited
PO Box 24171
69 Morrison Street
Alternatively we can accept application forms electronically
You and your client can now complete and sign application forms electronically through Adobe Sign.
If you’d like to use our digital application process, please contact us and we can arrange for the application to be sent.
Make sure you have your email address and mobile number, as well as your client's email address and mobile number (including dependant's details if applicable) – we’ll need these before we can issue the application.
What happens when we receive your application?
The quote will be guaranteed for 45 days from the date the quote is produced. The application form and purchase price must be received within the 45 days for the terms in the quote to apply.
We have a dedicated administration team who will be responsible for setting up and dealing with all post sale aspects of our Annuities.
The administration team will:
- on receipt of an application form, validate the information in the form to enable us to set up the annuity on the correct basis
- contact the ceding provider on receipt of the application form to obtain the purchase price. This will be done by ORIGO options or by post
- check to see if the purchase price is received after the end of the guarantee period. Where this is the case, and the enhanced annuity rate has decreased, we will issue a new quote.
On completion of the checks the administration team will:
- pay any tax-free cash where appropriate
- set up annuity income payments
- organise payment of any adviser charge or commission
- issue policy documentation, including the Policy Schedule, to the customer. If requested copies can be issued to you.