A pension is the most tax efficient way of saving for your retirement

Find a pension that’s right for you

Scottish Widows has been helping people prepare for their future since 1815. And as we've been voted the Best individual Pension Provider by Independent Financial Advisers^*, you can trust us to find a pension that's right for you.

Pensions are the most tax efficient way to save for your retirement and higher rate tax payers can claim up to 40% of their pension contribution back from the taxman. To see how tax efficient a pension could be to you, try our tax relief calculator.

^*Source: Financial Adviser Life & Pensions Award 2009 – 10,000 participants.

If you're a higher rate tax payer and your relevant income in the current tax year, or in either of the previous two tax years, is £130,000 or more, you may be subject to the Government's Special Annual Allowance. In these circumstances, you may be required to pay a tax charge if the total payments to your pension plan during the current tax year exceed your Special Annual Allowance limit.

From 6 April 2010, an additional tax rate of 50% applies to incomes over £150,000.

Beginners Guide to Pensions

All you need to know about basic pensions saving.

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Pensions tax relief calculator

Work out how much you could save in tax relief when paying into a pension.

The value of the tax benefits of a personal pension depend on your individual circumstances. Both your circumstances and tax rules may change in the future. For examples of how the tax relief works in practise use the link below.

View pensions tax relief examples now

Further information