New applications

Individual Annuities

New to Scottish Widows?

You will need to register your agency with us before you apply.

Set up my Agency

How to apply

Quickest - Digital Application

Digital Apply is the fastest route to opening an annuity with us. You can:

  • Access application forms directly from your quotes
  • Save your progress and return at any time
  • Submit complete applications with a single click.

How it works:

You can now apply for an annuity using a quote from any portal. All you need to do is:

  1. Log into the Scottish Widows Adviser Extranet
  2. Enter your quote reference
  3. Start the application online.

You’ll be able to:

  • Retrieve active quotes and complete applications online 
  • Save and update forms for added flexibility 
  • Find step-by-step guidance throughout 
  • One-click submission once approved.

Getting started

Register on the Scottish Widows Adviser Extranet - it usually only takes a few days to get access. Once complete, you can begin using Digital Apply right away.

Register or login to the Scottish Widows Extranet

Guide to Accessing our online services (PDF, 2MB)

If you have any questions about Digital Apply, please get in touch with your usual Scottish Widows contact.

Before you apply

Check that you have used the correct quote. 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) - through a single pot that has already been crystallised, any tax-free cash taken and a Lump Sum Allowance and Lump Sum & Death Benefit Allowance check completed by the ceding scheme.

Combining Pension Pots Under an Open Market Option (OMO)

When using an Open Market Option (OMO), pension funds from different schemes typically can’t be combined. You'll need to set up a separate annuity for each scheme, using a separate quote and application.

However, if you have multiple pension pots under the same Pension Scheme Tax Reference (PSTR) number, these can be combined into a single OMO. In this case, you only need to produce one quote. To include each separate pension plan or arrangement, please complete an additional copy of Section D (Your Current Scheme or Policy) of the application form for each pension pot.

Before going ahead with the application, please make sure you have discussed any fees for yourself and service charges for Scottish Widows. Please also make sure your client has a copy of our key features document (PDF, 150KB).


What you need to apply

  • Confirmation from the client of their consent to any adviser charges
  • Discharge papers from transferring company, if applicable
  • Trustee, administrator and member signature (as applicable).


Please email the fully completed application to annuities@scottishwidows.co.uk or send it by post to:

Scottish Widows
Annuities
Swindon
SN80 1AA

 

When we receive the application:

  • We'll confirm we've received it with you and with your client
  • The quote is guaranteed for 30 days from the date the quote is produced 

Automatic Rate Increase

When we receive the customer's funds within the 30 day period, we'll automatically apply the higher of the original quoted annuity rate and the current rate. No requote is needed.

  • You must send us the application and we must receive the funds within 30 days for the terms and conditions in the quote to apply
  • Our dedicated team will then set up and look after your client and send out all post sale documents.


Our dedicated 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.


Setting up the annuity

  • When everything is ready to go, we’ll pay any tax-free cash to the annuitant (if applicable), set up their income payments and pay any adviser charge or commission
  • We’ll then send out all policy documents, including the annuitant’s welcome letter with policy schedule and terms and conditions
  • We can also send these documents to you, if you ask us to.

Portal Quotes

You can receive annuity quotes through a portal.

If you're not already registered with a portal, please find the links below: 

In some cases, we may return an indicative quote and additional information will be needed for a guaranteed quote. If you've received an indicative quote, please email the Quote Number, a completed Retirement Health Form and any other supporting medical information to annuityquotes@scottishwidows.co.uk 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.

Advantages of Portal

  • It will give you the best quote from the whole of the market.
  • It's faster and easier - quotes are automatically underwritten.
  • It's flexible and secure.