Scottish Widows pension drawdown hub: published fees, investment options and features. Updated for 2026. Guidance, not advice.
Estimated yearly cost at £250,000: £198 a year (monthly income, no share deals; Platform fee only — fund charges extra).
Position on cost: Ranks 3 of 18 fully priced platforms on cost at £250,000. Scottish Widows against every DIY platform
| Drawdown admin fee | None Included in the yearly cost above |
|---|---|
| Regular income payments | Free |
| One-off (ad-hoc) withdrawal | Free |
| UFPLS payment | Free |
| Transfer out (exit fee) | Free |
| Minimum pot | Not confirmed |
| Cash in the pension | Not confirmed |
Fees checked 24 Jun 2026. “Not confirmed” means the charge is not published or we have not verified it; it is never counted as free.
Sources: Share dealing costs and charges · Costs and charges (PDF)
Capital at risk. Comparison information only, not advice. Confirm charges on the provider’s own pages before you act.
Platform fees: 0.25% a year, capped at £16.50/month (£198/year) - Share Dealing SIPP
Fund charges (Ongoing Charges Figure) apply on top of platform fees and depend on your chosen investments. Use our calculator above to see the total annual cost for your specific pot size.
Eligible claims may be covered by the Financial Services Compensation Scheme (FSCS). If a SIPP operator or investment firm fails, the limit is £85,000 per person per firm; a pension provided by an insurer is normally covered in full. FSCS pension protection
Source: Scottish Widows SIPP page, checked 23 Sept 2026.
No new verified updates this month. We only list items we can cite from an official RNS, company newsroom or official blog.
27 Oct 2026
Scottish Widows said Share Dealing customers who download its app and register between 19 October 2026 and 4 January 2027 can receive £25, paid into a general investment account in February 2027. Eligible trades placed by 30 November 2026 qualify for a commission refund of up to £5, credited in December 2026.
Last verified: 2 Nov 2026.
Also compare: Vanguard, Interactive Investor, AJ Bell Youinvest, Hargreaves Lansdown, Fidelity Personal Investing, and all UK providers we track.
Free, impartial guidance: Pension Wise offers free appointments to people aged 50 or over with a defined contribution pension, and MoneyHelper’s investment pathways comparison tool compares drawdown providers’ ready-made options. Both are backed by the government.