Savings and investments FAQs
The answers you're looking for
Stocks and shares ISA
Who can apply for a Standard Life ISA?
Anyone who is over 18 and is a resident and lives in the UK for tax purposes. Crown employees serving overseas, and their spouse or civil partner with a UK address, can also apply.
See the Key Features Document for full details
How much can I pay into a stocks and shares ISA during this tax year?
For the 2012-13 tax year, you can invest up to £11,280 in a Stocks and Shares ISA. Your spouse or civil partner can invest the same, giving you a potential joint investment of £22,560.
Remember this limit is reduced by any amount you pay into a Cash ISA. These limits may be subject to change.
If I pay into my ISA with monthly payments, can I add a lump sum too?
Yes you can, as long as you haven’t reached the annual payment limit (£11,280 for the 2012-13 tax year, less any amounts paid into a cash ISA).
Can I take money out of my stocks and shares ISA?
You can cash in your ISA whenever you want. You can also make regular withdrawals – from once a month to every 12 months.
Remember, once you’ve invested your maximum £11,280 for the tax year, you won’t be able to invest more in that year even if you take money out. If you have used up your allowance, you can invest more money through our Investment Funds product
Do I have to declare my ISA on my self-assessment tax return?
This is currently not required, but this may change in future tax years.
Is my money tied up in an ISA for a fixed period?
No. There’s no fixed time limit for a Stocks and Shares ISA. Its considered that a Stocks and Shares ISA should be invested for at least five years, but if you need access to your invested money you can cash in your ISA whenever you want.
How can I keep track on how my Stocks and Shares ISA is doing?
We’ll send you a statement twice a year that shows you how much you’ve paid in and taken out and how much your ISA is worth.
And you can register for Standard Life online servicing where you can check how your investments are performing.
Do you offer cash ISAs?
We don’t offer cash ISAs but we do offer a Stocks and Shares ISA. This has a number of differences to a cash ISA and can yield higher potential returns for a given level of risk.
Investment returns aren’t guaranteed. The value of your investment can go up or down so you may get back less than you paid in.
What is the MyFolio Managed Fund range?
The selected range is made up of five MyFolio Managed Funds designed to meet a range of risk appetites.
The MyFolio Managed Funds invest in a wide range of other investment funds. Each MyFolio Managed Fund holds a combination of lower risk investments such as cash and bonds, and growth assets - higher risk investments such as shares and property.
The MyFolio Managed Funds are expertly constructed funds, managed by Standard Life Investments. They have been specifically designed to maximise potential returns for a given level of risk.
Investment returns aren’t guaranteed. The value of your investment can go up or down so you may get back less than you paid in.
External Fund links
What is an External Fund Link?
An External Fund Link (EFL) is a Standard Life fund that invests in the fund of an external manager. So if you invest in an EFL your money would buy units in the Standard Life EFL instead of the external manager's fund. Our EFL then uses your money to buy units in the external manager's fund, or 'underlying' fund.
Can I invest in an External Fund Link through my Standard Life Stocks and Shares ISA?
EFLs are not available in our Stocks and Shares ISA.
How will I know I'm using an External Fund Link?
Our EFLs will always have Standard Life in front of the name of the underlying fund. For example the 'Standard Life Invesco Perpetual High Income Fund' invests in the Invesco Perpetual High Income Fund.
Why do you offer External Fund Links?
The rules and regulations governing life and pension products often mean we can't allow you to invest directly in the fund of an external fund manager. By offering External Fund Links, Standard Life enables you to invest in some of these funds indirectly - giving you greater choice.
Do I own units in the underlying fund?
No. You own units in the Standard Life External Fund Link and are not invested directly in the external manager's fund.
Has Standard Life always offered External Fund Links?
Historically, Standard Life did not offer EFLs. Like much of the industry, we would only offer our own funds. By offering external funds we are able to give you a much wider choice.
Is the fund performance of the External Fund Link the same as the underlying fund?
The performance of an External Fund Link (EFL) is not exactly the same as the external manager's fund. Some differences can occur due to:
- Charges - We will charge an annual management fee on our EFL that will not necessarily be the same as you would pay on the underlying fund. The fee you pay on an EFL will cover administration costs for your product as well as the costs of investment with the external fund.
- Tax - Life and pensions contracts often have different tax rules than the underlying fund, so we need to make allowance for this in our pricing. For example, gains made through investments on life contracts are usually taxed at 20%. When we calculate the value of a fund we always include expected costs and taxes.
- Cash - When you buy or sell units in our EFL we then need to buy or sell units in the underlying fund. Due to the time it takes to buy and sell units in the underlying fund, at any point in time there may be a small amount of cash held in the EFL.
For more information about External Fund Links (EFLs) please call the number on your statement or contact our call centre.
If you have any questions that aren’t answered here, please contact us
