Scottish Widows pension fees and charges
Direct answer: Scottish Widows charges 0.25% capped at £198/year (£16.50/month). Cap effective above ~£79,200.. On a £100,000 pot that is £198/year in annual provider/platform fee, and on a £500,000 pot it is £198/year. Fund charges and product-specific caveats may apply.
Scottish Widows, owned by Lloyds Banking Group, completed the migration of the iWeb Share Dealing platform onto Scottish Widows branding in October 2025. The Share Dealing SIPP has a 0.25% platform fee capped at £198/year, with share and ETF dealing charges applying separately. For mid-to-large pots, Scottish Widows can be cost-competitive where capped admin fees and broad investment access matter, but the comparison depends on trading frequency, fund choice, existing guarantees, workplace terms and personal circumstances.
- +Platform fee capped at £198/year
- +Full share dealing capability (~3,000 funds, 700+ ETFs, 4,500+ shares)
- +Lower platform fee than Vanguard above ~£132k
- +Part of Lloyds Banking Group
- –£5 per trade for shares and ETFs
- –Beaten on absolute cost by Interactive Investor's Plus plan above £100k portfolios (£179.88/yr vs £198)
- –Less polished interface than premium platforms
- –Workplace pension charges are separate and higher
What are Scottish Widows pension charges in 2026?
Scottish Widows's representative published charging model is: 0.25% capped at £198/year (£16.50/month). Cap effective above ~£79,200.. The figures on this page show provider/platform/admin charges by pot size. Fund charges, adviser charges, workplace terms and product-specific charges may differ, so check the provider fee schedule before acting.
Does Scottish Widows offer a SIPP platform?
Scottish Widows offers a Share Dealing SIPP with a capped platform fee in the data used on this page. Workplace pension charges are separate and can be employer-negotiated, so a Scottish Widows workplace pension is not automatically priced the same as the SIPP platform.
Are Scottish Widows pension and platform charges the same?
No. Scottish Widows has different pension products and charging structures. This page uses the published Share Dealing SIPP/platform fee schedule for the representative table, while workplace pension charges and legacy products can differ.
- •Fees shown are representative provider, platform or admin charges. Some rows are platform/admin fees only; Royal London's Governed Range AMC includes Royal London fund management.
- •Fee structures change without notice. Always verify the current fee on the provider's website before making any decision.
- •The lowest headline fee is only one comparison point. Fund range, service, platform features, investment choice, adviser access, and product restrictions also matter.
- •Transferring a pension may involve exit fees, loss of guaranteed benefits, or loss of employer contributions. Check before you transfer.
- •This page is factual information based on published fee schedules, not a recommendation to use or avoid any provider.
- •For personal recommendations, speak to an FCA-regulated financial adviser and check the FCA register.