FREQUENTLY ASKED QUESTIONS

A platform is the name for the technology and services that allow you or your financial adviser to manage different types of investments and tax wrappers in one place. Managing your Account online makes it easy for you and your adviser to keep track and control over your money. This flexibility and control are key elements in making sure that you achieve the type of retirement lifestyle you are aiming for.

There are two main stages to saving on a platform: growing your savings throughout your working life and then taking income as you move into retirement. Through both stages, the types of investments you need to achieve your financial goals may be different. The services and tax wrappers you require should also vary. As your need for income changes over time, a platform offers access to a range of investment types, as well as different tax wrappers to enable your adviser to manage your affairs efficiently.

The Scottish Widows Platform gives you access to a range of investment Accounts that can be used on their own or together. Each provides a different approach for dealing with tax on your savings efficiently.

Whether you need straightforward pension savings options or the ability to save into an ISA each year, our range of Accounts can help you achieve your savings and retirement goals.

Your adviser will help you to choose the right Account or Accounts to match your needs. To view our full range of products visit our products and services page.

Your financial adviser has recommended the Scottish Widows Platform for your investments. This client platform guide will help answer some of the questions you might have about the platform and its benefits.

Clients must be a UK resident, 18 years or older, hold a sterling denominated bank account and have a valid email address to open one of our Accounts.

Please note a Junior ISA and Junior Personal Pension can be opened by a parent or guardian for a child under 18.

Although your financial adviser will normally manage what happens in your Accounts for you, it is important that you can see for yourself that things are going according to plan.

That is why we give you secure online access to view your Personal Pension, ISA or General Investment Account whenever you want.

If you are the Registered Contact for a child with a Junior ISA, you will be able to view their Account too.

There are two levels of access, and your adviser will agree with you what level of access you want or need. Our online Account view allows you to see where your money is invested and how the Account is performing, and our self-service view means you can control more of what happens in your Account and make trades yourself.

The Scottish Widows Platform is a truly digital offering. Whatever level of access you have, we communicate by email and provide all your documentation electronically in your personal Literature Library.

If you have a Third Party Investment Account, your pension provider can also see the Account as the owner of the assets they hold on your behalf.

You can only open an Account on the Scottish Widows Platform through a financial adviser. Your financial adviser will do it all for you online. All Accounts can be set up quickly and easily without the need for lengthy application forms.

The Scottish Widows Platform has a low initial contribution level of £50 for the Personal Pension, ISA, Junior ISA and General Investment Account, and a range of flexible contribution frequencies. If you are transferring funds into a Third Party Investment Account, a minimum payment of £5,000 applies.

Transferring investments and cash into your Account is simple. You may be able to transfer investments without selling them first provided we offer the same investment you want to transfer. Otherwise, you can ask your current provider to sell the investment and transfer in cash. Your adviser will be able to arrange this for you.

Speak to your financial adviser in the first instance. They are there to help you. Otherwise contact our support team.

Visit unbiased.co.uk to find a local adviser that suits your savings and investment needs.

You can refer to our online glossary for explanations of technical or unfamiliar terms.

Speak to your financial adviser or visit the Scottish Widows homepage to find out more.