Best Lloyds-Linked
Part of Lloyds Banking Group. Major workplace and personal pension provider. Pension ready-made portfolios and flexible drawdown options.
Scottish Widows is a large pension provider, part of Lloyds Banking Group, with a substantial workplace pension business.
Most people encounter it through an employer scheme rather than by choosing it, and its personal pension proposition is conventional.
Who it suits. Savers with an existing Scottish Widows workplace pension, and those who prefer a large insurer-backed provider to a DIY investment platform.
Worth knowing. Default workplace pension funds are built to be adequate for everyone rather than optimal for anyone. Reviewing which fund your contributions actually go into, and whether the risk level matches your age and timescale, is usually the single most valuable thing to do with a workplace pension.