id
- Standard Life calculations demonstrate long-term impact of pausing pension contributions - with people at risk of having thousands of pounds less in retirement by stopping payments, even for just one year
- A year-long payments break could mean almost £13k less in retirement if you'd started contributing from the age of 22
- Almost all (93%) of Standard Life customers are feeling the impact of increasing costs and soaring fuel prices on their finances
- Three quarters (77%) expect to have to cut back on spending or saving - rising to 86% among households with less than £20k income
As the cost of living continues to soar, with inflation reaching a 40 year high just last week, the impact on household finances is taking its toll. Insight from Standard Life, part of Phoenix Group, highlights the importance of trying to maintain a savings habit even in the current climate and the impact any breaks in savings contributions can have in the long-run.
Pausing pension contributions mean savers miss out on thousands in future
Standard Life's research, based on a survey of over 2,500 customers, shows that if they had to cut down on expenses 15% would put less money into savings accounts, and 6% would reduce their pension contributions.
This low figure is encouraging, as Standard Life analysis2 reveals that reducing or stopping pension contributions, even for a relatively short period of time, can have a significant impact on the final pot - with savers potentially being thousands of pounds less well off in retirement as a result.
For example, someone that began working with a salary of £25,000 per year and paid the standard monthly auto-enrolment contributions (3% employee, 5% employer) from age of 22, would have a total retirement fund of £456,893 at the age of 68. However, stopping pension contributions at the age of 35 for just one year, would result in a total pot of £444,129 - almost £13,000 less than if they had not stopped paying in. Stopping contributions for a longer period would have an even bigger impact:
Total retirement fund at age of 68* | |||
---|---|---|---|
No breaks or reductions in contributions | Stopping pension contributions at the age of 35 for one year | Stopping pension contributions at the age of 35 for two years | Stopping pension contributions at the age of 35 for three years |
£456,893 | £444,129 | £431,558 | £419,180 |
-£12,764 | -£25,335 | -£37,713 |
*if beginning working with a salary of £25,000 per year and paying 3% monthly contributions into a workplace pension at the age of 22
Cost of living bites
While currently relatively low, the risk of consumers sacrificing savings to cover everyday expenses continues as long as these challenging circumstances go on. Over three quarters (77%) expect to have to cut back on spending or saving, and unsurprisingly those with less household income are having to make the most cuts. For households with less than £20k in income, 86% say they'll need to reduce their spending and saving, with 83% of households with between £20,001 and £30k income saying the same. This compares to less than three quarters (72%) of households with £70,001-£100k income, and 56% of households earning more than £100k.
Almost all (93%) say that increasing costs and high inflation are going to impact, or are already impacting, their financial situation, rising from 88% in Q1 this year. More than four fifths (85%) say higher fuel costs have affected their finances (up from 76% in Q1), while 93% are feeling, or will feel, the effects of higher energy prices on their finances (up from 88% in Q1).
Jenny Holt, Managing Director for Customer Savings and Investments at Standard Life said: "Consumers have had to contend with a lot so far this year, and since April alone we have seen the increase to the energy price cap, higher national insurance contributions, as well as inflation recently reaching 9.1%. This is of course taking its toll on people's finances, with many having to cut back on spending and saving as a result.
"If possible, the first port of call should be to reduce spending - for example cutting back on unnecessary purchases and shopping around for better value deals. Doing this, rather than making decisions that will affect future finances such as reducing or stopping pension contributions, even if for a short period only, will be beneficial in the long term."
When it comes to making cutbacks, reassuringly customers are currently doing just this. If they needed to cut down on expenses, half of Standard Life customers would reduce their energy usage (51%) and spend less on luxuries (51%). Three in ten (30%) would eat out less, while 23% would reduce their subscription services and 23% would also go on fewer holidays.
Jenny Holt at Standard Life shares tips for potential spending cutbacks in the current environment:
- 1. Review your expenditure for potential areas of savings - "By looking through your monthly outgoings, you may find there are ways to make savings. Do you have any subscriptions or memberships that you no longer use and could cancel or pause? Do you spend a lot of money on things that are a luxury, such as takeaways? Taking some of these small steps could make a difference."
- Shop around for better deals - "You may be able to switch household providers and find cheaper deals - such as for broadband or your mobile phone. Many providers have package deals for new customers so it's worth using a price comparison website to see if there are savings to be had."
- Set budgets - "To help you keep an eye on your outgoings, it may be worth setting a budget for things like food shopping and socialising so you don't spend more than your means."
ENDS
Enquiries
James Merrick
Phoenix Group
07713 918949
james_merrick@standardlife.com
Notes to Editors
1 - Research conducted among a sample of c2,600 contactable Standard Life customers between 9th and 22nd May 2022
Calculations assume the following:
Starting salary | £25,000 |
Starting age | 22 |
Employer contribution | 3.00% |
Employee contribution | 5.00% |
Investment growth | 6.25% |
Salary growth | 3.00% |
Annual inflation | 2.00% |
Annual investment cost | 1.00% |
2 - Calculations are intended only for the sole purpose of providing an illustration regarding the projection of savings and pensions. They should not be used with the intention to give an accurate representation of real world outcomes.
About Standard Life
- Standard Life is a brand that has been trusted to look after peoples' life savings for nearly 200 years
- Today it proudly serves millions of customers who come to Standard Life directly, through advisers and through their employers' pension scheme.
- Standard Life is part of the Phoenix Group, the largest long-term savings and retirement business in the UK. We're proud to be building on nearly 200 years of Standard Life heritage together
- Our products include a variety of Pensions, Bonds and Retirement options to suit people's needs, helping our customers to invest and save for their future. We're proud to offer a leading range of sustainable and responsible investment options.
- We support our customers on their journey to and through retirement with comprehensive, easy-to-understand guidance so they can invest in the right way for their needs, and plan a future they feel confident about.
- The value of investments can go down as well as up, and may be worth less than originally invested.
Press releases
-
Standard Life support Samaritans to help those struggling this Christmas
Standard Life funding to help Samaritans continue answering calls this Christmas Day
-
Standard Life Master Trust Board Appointments
Standard Life Appoints Helen Dean to Chair Master Trust Board and Gurmukh Hayre as trustee director
-
Continued rise in average annuity rates during third quarter of 2023
Average annuity rates continued to rise in Q3, according to the Standard Life Annuity Rate Tracker
-
Trustee Accelerator Programme
Standard Life targets the next generation of Trustees with the launch of the Trustee Accelerator Programme
-
Cost-of-living crisis is main barrier for two fifths of over 50s approaching retirement
Research from Standard Life shows barriers for over 50s approaching retirement
-
Beware the cost of parenting crisis
Standard Life research highlights the pressure on parents
-
3-year pension contribution break could result in £36k less in retirement
Standard Life analysis finds even a short payment pause could have big retirement consequences
-
Have you lost track of your pensions?
Ahead of Pension Tracing Day, Standard Life finds many are unaware they can bring their pots together
-
Standard Life research shows half of DB scheme trustees now have an endgame strategy but barriers to delivering it remain
Half of DB scheme trustees now have an endgame strategy but barriers to delivering it remain according to research from Standard Life, part of Phoenix Group
-
A third of UK people feel they have made poor financial decisions recently
Standard Life sponsored research highlights falling financial confidence
-
How to supercharge your savings with on-off contributions
Even relatively small contributions can be powerful, Standard Life finds
-
Pensions are Brits’ lowest ‘life admin priority’
Pensions are bottom of the to-do list, but your future self might thank you for a quick check
-
Standard Life announces the completion of £335m buy-in with the London Stock Exchange Group Pension Scheme
Standard Life, part of Phoenix Group, has concluded a £335 million Bulk Purchase Annuity (“BPA”) transaction with the London Stock Exchange Group Pension Scheme (“the Scheme”).
-
Retirement countdown begins at 36 – is it early enough?
Standard Life’s new Retirement Voice report finds a mid-thirties financial turning point
-
Becoming self-employed? Remember your pension
Standard Life shares key pension points when moving from employed to self-employed
-
Only 1 in 10 IFA’s supportive of proposed pension death benefit changes
Standard Life research finds an underwhelmed response to the plans
-
Standard Life confirms plans for pensions dashboard
Standard Life strengthens partnership with Moneyhub and announces plans to deliver commercial pensions dashboard
-
Boosting pension contributions could leave you £115,000 better off in retirement
This Pensions Engagement Season, Standard Life analysis shows the long-term impact of different employer pension packages on retirement outcomes.
-
Annuity rates reach highest levels in two decades – but half of over 50’s still don’t fully understand how annuities work
New research from Standard Life, part of Phoenix Group, has revealed stark misunderstandings about annuities, including their usage and value
-
Kunal Sood comments on Phoenix Group’s Half Year 2023
Kunal Sood, comments on the half year success of Standard Life’s DB Solutions business as Phoenix Group publishes its half year financial results
-
Andy Curran comments on Phoenix Group’s Half Year 2023
Andy Curran, CEO of Standard Life, comments on Standard Life’s contribution to Phoenix Group’s Half Year Results 2023
-
1 in 10 UK fear their more vulnerable relatives have lost money through poor financial decisions
Research from AKG, sponsored by Standard Life shows scale of family concern
-
Starting pension contributions as early as possible pays off in retirement
Standard Life analysis highlights the potential power of compound investment growth
-
Andrew Davies joins Standard Life’s Independent Governance Committee
Andrew takes up the role of Communications & Engagement Value for Money Lead on the IGC.
-
People are nearly three times more likely to top up cash savings with spare money than their pension
Standard Life outlines the benefits of different savings options for both-short and long-term
-
Standard Life launches new individual annuity to meet increasing desire for a guaranteed income in retirement
Standard Life, part of Phoenix Group, today announces the launch of the Standard Life Pension Annuity, designed to meet an increasing need for certainty and security among those approaching or at retirement
-
Savers chase higher rates while borrowers look for signs of falling mortgage costs
Standard Life’s Search Radar shows 172% increase in searches for the best savings account in July
-
Boosting pension contributions after paying off your mortgage could mean £52,000 more in retirement
As long mortgage terms gain popularity, Standard Life analysis highlights the retirement trade-off
-
Illiquid assets a key focus for DB pension trustees targeting bulk purchase annuities
Improvements in funding levels have accelerated the need for many Defined Benefit (DB) pension trustees to consider the illiquid assets in their schemes, according to research from Standard Life, part of Phoenix Group.
-
How to stay safe from pension scammers
What you should know to protect your long-term savings
-
The cost of being single in retirement
Single retirees need to save more for the same standard of living as pensioner couples
-
Advisers report clients withdrawing funds to plug financial shortfall
AKG research, sponsored by Standard Life, highlights the UK’s continued cost-of-living pressure
-
Four fifths of Defined Benefit (DB) pension scheme trustees expect to approach an insurer about de-risking within five years
A surge in bulk annuity deals is anticipated over the next five years, with over four fifths (86%) of pension scheme trustees expecting to approach an insurer in the next five years, according to new research from Standard Life, part of Phoenix Group.
-
Standard Life appoints Callum Stewart to Head of Investment Proposition Development
Dedicated investment solutions’ expertise for Standard Life’s workplace business
-
Rising interest rates boost positivity around cash savings while property confidence falls
Standard Life highlights the impact of current market conditions on different investments
-
Mega-transactions, deferred premiums and full-scheme deals are set to dominate the DB de-risking market during the second half 2023
Kunal Sood, Managing Director of Defined Benefit Solutions & Reinsurance at Standard Life identifies key trends in the DB de-risking market during the second half 2023
-
Standard Life completes £1.2 billion buy-in with Mitchells & Butlers Pension Plan
Standard Life, part of Phoenix Group, has concluded a £1.2 billion Bulk Purchase Annuity transaction covering c. 20,200 members of the Mitchells & Butlers Pension Plan
-
Standard Life outlines key considerations around how and when to take tax-free cash
Splashing the (tax free) cash: Over 55s expect to spend a third of their pension Tax Free Cash within six months of withdrawal
-
Annuity rates increase by 20% in the last twelve months adding over £25,000* to lifetime income
Standard Life Annuity Rate Tracker shows rates have increased by 20% since June 2022 with a total increase of 48% since the start of 2022
-
Standard Life reinforces commitment to its Retirement Solutions Commercial and Technology strategy with two senior hires
Standard Life, part of Phoenix Group, has announced two new senior appointments into the Commercial team that supports its Retirement Solutions business
-
Standard Life announce winners of second Innovation Forum contest
Winners selected for their innovative approach to engaging people with their pensions
-
Standard Life appoints Amy Madden as Customer Office Director
Amy’s appointment cements Standard Life’s commitment to driving a market-leading customer experience
-
Standard Life responds to DWP proposals
Our view on the consultations, responses and policy papers published on the 11th July
-
Standard Life completes £1 billion buy-in transaction with Chubb Pension Plan and Chubb Security Pension Fund
Standard Life, part of Phoenix Group, has concluded a £1 billion Bulk Purchase Annuity (“BPA”) transaction covering two schemes, the Chubb Pension Plan and the Chubb Security Pension Fund.
-
Nearly a fifth of over 55’s plan to pass their Tax Free Cash to loved ones
Standard Life analysis finds people willing to stay away from their cash to avoid IHT.
-
Standard Life appoints new Head of Financial Education and Communication
Andrew Pearson’s appointment cements Standard Life’s Financial Wellbeing focus
-
Starting pension saving early can outweigh the later life boom
Standard Life analysis demonstrates the benefit of consistent saving through a career.
-
2% increase in employer pension contributions could leave you £115,000 better off in retirement
Standard Life analysis shows why you should think about your pension package before accepting a job offer.
-
New Head of Retail Intermediary Distribution
Warren Bright’s arrival further strengthens the Retail Advised team.
-
Standard Life completes £80m buy-in with the MGM Assurance Staff Pension Plan
Standard Life, part of Phoenix Group, has concluded a £80 million Bulk Purchase Annuity transaction with the MGM Assurance Staff Pension Plan
-
Standard Life Search Radar highlights State Pension spike
State Pension top-up scheme and Budget lifetime allowance changes drive increase in internet searches
-
43% of over 55’s unaware they can take 25% of their pension tax free
Standard Life research finds a Tax Free Cash knowledge gap
-
Standard Life partners with Moneyhub to integrate open finance functionality
1.5 million workplace pension scheme members set to benefit Money Mindset, Standard Life’s open finance tool
-
Standard Life hosts first ‘Vulnerable Customer Summit’
Joint initiative with Scottish Financial Enterprise brings industry together to drive good outcomes for vulnerable customers
-
Sustained high inflation hits savers
Ahead of this week’s inflation figures, Standard Life analysis highlights the hit to cash-based savings
-
Young savers set for big retirement boost
Standard Life calculations show six-figure benefit of saving early
-
Women are more likely to only make minimum pension payments
Standard Life research explores a cause of the UK’s gender pension gap
-
Pension withdrawals and taxes explained
Standard Life’s guide to understanding tax when you access your pension
-
Standard Life Extends Master Trust with Launch of Retirement Section
Award winning Master Trust extended to employers and trustees of Single Employer Own Trust Schemes
-
The cost of growing up: financial responsibility doubles from 25 and continues beyond retirement
Standard Life research highlights the cost of growing up
-
Boosting pension contributions by 2% each month could lead to £108,000 more in retirement
Standard Life analysis highlights long-term impact of small payment increases
-
Current older workers plan to retire 7 years later than their predecessors
Standard Life research finds concerns around financial security could explain the gap
-
Search Radar: State Pension and pension tracing in high demand
Standard Life’s latest Search Radar show a huge increase in searches for both versus 2022
-
IFA’s mostly support budget changes but Lifetime Allowance doubts remain
Standard Life research finds majority of advisers happy with the pension changes but wary of banking on the LTA removal remaining
-
75% of UK adults don’t know how much is in their pension pot
Standard Life research highlights the country’s pension knowledge gap, and what we can do about it
-
Part-time workers face pension penalty of up to £119,000
Standard Life analysis shows switching from full-time work to working part-time 3 days a week could lead to £119,000 less in retirement
-
Boom in IFA client enquiries following Budget pension changes
45% of IFAs report increase in enquiries following Budget pension bombshell
-
Most state benefits are about to rise by 10.1% - make sure you check your eligibility
Standard Life’s guide to claiming your full entitlement as benefits rise with inflation
-
Full State Pension will be 84% of the tax-free Personal Allowance from 6 April
Rise in the State Pension will be welcome, but Standard Life analysis highlights the potential tax implications
-
Business optimism abounds as advisers contemplate challenges in the months ahead
Standard Life’s research highlights challenges concerning financial advisers
-
Standard Life comments on DC Pensions Consultations
Standard Life’s view as the Value for Money, Collective Defined Contribution and Small Pots Consultations close
-
Standard Life announce new FinTech ‘Innovation Forum’
This year FinTech firms will work with Standard Life to boost engagement with responsible investing
-
Remember your pension this Tax Year End
Standard Life offers tips on how to maximise your pension savings this tax year, and how to prepare for the new one
-
Advised customers expect to retire three years earlier
Standard Life analysis highlights the benefits of seeking advice and planning ahead for retirement
-
Maggie Craig joins Standard Life Independent Governance Committee
Appointment extends Independent Governance Committee members to seven
-
Eleven-in-a-row interest rate rise threatens retirees
Recent analysis found 13% of retirees still rent of pay a mortgage, and could struggle as rates reach 4.25%
-
Property or Pension to fund Retirement?
Standard Life research shows a generational divide
-
Market fluctuations and Pension Saving
As the FTSE 100 reaches record high, Standard Life analysis puts market fluctuations in context
-
One in Seven receive less State Pension than they expect
Standard Life analysis highlights extent of the State Pension knowledge gap
-
Half of UK consumers find pensions information overwhelming as cost of living hits confidence
Standard Life analysis shows how financial uncertainty has led to a greater need for pension advice and guidance
-
Standard Life comments on today's 'Ten in a Row' interest rate rise
Standard Life analysis shows how rising saving returns and falling inflation could combine to help savers
-
Standard Life comments on the DWP’s consultation on small pots
Standard Life favours a ‘pot follows member’ solution to the issue
-
Claire Altman, Managing Director for Individual Retirement at Standard Life comments on CDC Consultation
Claire Altman, Managing Director for Individual Retirement at Standard Life has commented on the Consultation on a policy framework for broadening Collective Defined Contribution (CDC) provision.
-
Internet searches for ‘pensions’ spiked 16% in 2022
Standard Life analysis reveals consumer need for pension information
-
Standard Life appoints Jeetesh Patel as new Head of Reinsurance and Structuring
Standard Life, part of Phoenix Group, today announces a senior promotion within its Retirement Solutions business
-
2028 minimum pension age increase could boost your retirement pot by £22,000
The rise from 55 to 57 is controversial but Standard Life analysis shows how it could help you in retirement
-
The self-assessment tax deadline is the 31st January- what you should know
Standard Life help answer questions on the tax return and discuss why you should think of your pension
-
Cost of living ‘triple shock’ hits financial confidence
Standard Life research reveals extent of the damage- and tips on how to get some confidence back
-
Tips to get your finances in shape for 2023
Standard Life shares ways to get your finances ready for the new year
-
Standard Life show how much of your retirement income will come from the state pension
Analysis reveals the proportion of pension income that will come from the state pensions for different sized pension pots
-
Cost of living pressures bite as almost one in ten seek second job
New findings from Standard Life’s Retirement Voice study, capturing the views and attitudes to retirement planning and finances.
-
Standard Life uses high-tech Edinburgh Innovation Lab to highlight Vulnerable Customer Issues
New virtual reality technology joins suite of technology to bring challenges faced by savers to life
-
Standard Life analysis shows Google searches for annuities on the up as rates rise
Standard Life, part of Phoenix Group, has appointed Equiniti, to carry out administration of both buy-in and buy-out BPA (bulk purchase annuity) policies.
-
Standard Life analysis shows Google searches for annuities on the up as rates rise
New analysis from Standard Life shows increasing interest in annuities as rates climb by around 50% since the start of the year
-
Standard Life completes final stage of £15bn pension asset transition into sustainable multi asset solutions
1.5 million members invested in sustainable multi asset solutions, marks sustainable milestone for Standard Life
-
Over 230,000 people may have been underpaid the state pension
Standard Life share guide to help ensure you are receiving your full state pension entitlement
-
Standard Life completes 200m GBP buy-in transaction with the Agfa Group Pension Plan
Standard Life, part of Phoenix Group, has concluded a £200m Bulk Purchase Annuity transaction with Agfa UK Group Pension Plan.
-
Standard Life appoints Dean Butler as Managing Director of Retail Direct
Standard Life, part of Phoenix Group, has appointed Dean Butler to the newly created role of Managing Director of Retail Direct, signalling its continued investment in its Pensions and Savings business.
-
Standard Life appoints new Managing Director of Defined Benefit Solutions and Reinsurance
Kunal Sood has been promoted Managing Director of Defined Benefit Solutions and Reinsurance, responsible for driving growth of Standard Life’s Bulk Purchase Annuity (BPA) business. He will take over from Justin Grainger, who has been promoted to Commercial Finance Director.
-
26.6bn GBP is sitting in lost pension pots ahead of National Pension Tracing Day 2022
With the value of lost pots soaring, Standard Life offers tips to help you keep on top of your pension savings.
-
Standard Life completes 530m GBP buy-in with the Cobham Pension Plan
Standard Life, part of Phoenix Group, has concluded a 530m GBP Bulk Purchase Annuity transaction covering c.3000 members of the Cobham Pension Plan
-
A quarter of workers unaware how much they pay into their workplace pension
Research commissioned by Standard Life highlights need for further auto-enrolment engagement strategies
-
Standard Life shares top tips to manage your pension
This pension Engagement Season, ensure you are getting the most out of your retirement savings
-
Standard Life unveils major investment in the iconic brand
Standard Life has been selected as the new headline partner for Cancer Research UK's Race for Life. Combined with a new TV ad, the activity represents the most significant investment in Standard Life since the brand was acquired by Phoenix Group
-
Standard Life research highlights gaps in pension awareness
With auto-enrolment reaching its 10th anniversary, pension engagement differs across demographics
-
Standard Life appoints new members to Independent Governance Committee
Rachel Haworth, Jo Hill, and Andrew Milligan join IGC overseeing interests of 2.5 million workplace personal pension scheme members
-
Standard Life highlights the potential impact of updated auto-enrolment rules on retirement outcomes
Standard Life highlights the potential impact of updated auto-enrolment rules on retirement outcomes
-
267,000 GBP pension pot needed to replicate average retirement income as annuity rates increase
Analysis of government figures by Standard Life reveals the pot size needed- and with rising annuity rates, it’s not all bad news
-
Saving early, if you can, yields compound interest benefits
Standard Life analysis shows saving as early as possible has a positive impact, but there are trade-offs between near and longer-term financial priorities in the current climate
-
Standard Life completes 1bn GBP full scheme buy-in of the WH Smith Pension Trust
Standard Life, part of Phoenix Group, has concluded a 1bn GBP Bulk Purchase Annuity transaction covering c.13,000 members of the WH Smith Pension Trust
-
Standard Life completes 150m GBP full scheme buy-in of the Sappi UK Pension Scheme
Standard Life, part of Phoenix Group, has concluded a 150m GBP Bulk Purchase Annuity transaction covering 1,300 members of the Sappi UK Pension Scheme
-
Pausing pension contributions mean savers miss out on thousands in future
Standard Life highlights the long-term implications of pausing pension contributions during the cost-of-living crisis - a year-long break could be costly
-
Standard Life completes 680m GBP buy-in of the Whitbread Group Pension Fund
Standard Life, part of Phoenix Group, has concluded a 680 million GBP Bulk Purchase Annuity transaction covering c8,000 members of the Whitbread Group Pension Fund
-
Seven mistakes to avoid when you're aiming to build your pension pot
Standard Life shares mistakes it's important to avoid while you plan for retirement.
-
Standard Life lowers Pricing and overhauls Portal in ongoing adviser channel focus
Standard Life is introducing a series of upgrades to its pension pricing and revamping its digital services as part of strategic plans to rejuvenate proposition and service capability for financial advisers.
-
Savers suffer as analysis shows harsh impact of high inflation over sustained period
New Analysis from Standard Life shows impact of sustained high inflation on savers
-
Standard Life Appoints Managing Director of Retail Intermediary to New Senior Role
Appointment marks renewed investment, focus and commitment to the intermediary marketplace
-
Sustainable transformation for 87,000 Standard Life MT Members
Standard Life Completes the switch of 87,000 Master Trust members to its new sustainable fund, Sustainable Multi Asset
-
Focus on Active phase of retirement puts Brits at risk of later life financial shortfall
UK adults risk potential financial shortfall in later life by focusing on initial, active phase of retirement - New Research from Standard Life reveals
-
Standard Life completes 175m GBP full scheme buy-in of the Findel Group Pension Fund
Standard Life, part of Phoenix Group, has concluded a 175M GBP bulk purchase annuity transaction covering all members of the Findel Group Pension Fund
-
Gen Z gets its affairs in order at an early age as Will making habits revealed
Insight from Standard Life reveals that as many as 20% of young adults aged 18 to 24 have already made a Will.
-
Standard Life makes senior hire to its Defined Benefit Solutions team
Standard Life, part of Phoenix Group, announces the appointment of three hires to its Defined Benefit Solutions business, strengthening the company's Bulk Purchase Annuity capabilities.
-
Standard Life launches Joint Research Initiative with the OECD
The new initiative will examine the challenges people face regarding retirement income and identify approaches being used globally
-
Standard Life to offer a range of workplace ISAs in partnership with Cushon
The Standard Life Workplace Savings Proposition in partnership with Cushon will provide employers with the option of offering their employees access to a range of savings options from Individual Savings Account (ISA) and Lifetime ISA (LISA) to Junior ISA (JISA) and a General Investment Account (GIA).
-
Standard Life enhances workplace Client Analytics
Client Analytics' enhanced functionality gives employers, trustees and advisers unprecedented insight into the expected Retirement Living Standards of their workplace pension scheme members
-
Standard Life completes 1.7bn GBP full scheme buy-in with Gallaher Pensions
Standard Life, part of Phoenix Group, has concluded a 1.7bn GBP bulk purchase annuity transaction covering all members of the Gallaher Pension Scheme ("the Scheme").
-
Phoenix Group 4.0 billion of Bulk Purchase Annuity transactions
Phoenix Group completes 4.0 billion of Bulk Purchase Annuity transactions in H2 2021
-
Standard Life Completes 1.8bn GBP Bulk Purchase Annuity Pensioner Buy-In
Standard Life, part of Phoenix Group, has completed a 1.8bn GBP Bulk Purchase Annuity (BPA) transaction covering c.6,600 pensioner members.
-
Standard Life to move £15bn of assets and 1.5m pension customers to sustainable default strategy
Standard Life, part of Phoenix Group, has concluded a £200m Bulk Purchase Annuity transaction with Agfa UK Group Pension Plan.
-
Flexible New Lifetime Mortgage Product Range
Standard Life Home Finance, a brand used by Key Group as part of its partnership with Standard Life, today announces the launch details of a new range of innovative Lifetime Mortgage products.
-
PerkinElmer pension scheme buy-in
Standard Life completes 130 million pound full scheme buy-in for 900 PerkinElmer scheme members
-
Gen Z's caring nature revealed
Gen Z's caring nature revealed as 62% happy to spend less now to help their children and loved ones in future
-
Phoenix Group invests in Standard Life brand as part of ambitious growth plans
Investment plans unveiled for iconic Standard Life brand following purchase by Phoenix Group
-
Standard Life announces strategic partnership with Key Group
Standard Life announces a strategic agreement with Key Group to launch a Lifetime Mortgage product range called Standard Life Home Finance.
-
Standard Life launches Homebuyers Hub
Property ladder boost for Pension Scheme Members as Standard Life launches Homebuyer Hub.
-
Gen xers not confident
A third of Gen Xers not confident they'll be able to work for as long as they need to fund their retirement
-
Nearly 1 in 3 Gen Xers have inadequate pension savings
Nearly one in three Generation X members (those born between 1965 and 1980) face financial hardship in retirement due to having inadequate pension savings.
-
Standard Life Launches In-Scheme Drawdown
Standard Life continues to enhance its workplace DC pension proposition with the launch of In-Scheme Drawdown for 1.5 million members.
-
Standard Life expands Responsible Investment range
Standard Life is expanding the range of Responsible Investment funds it offers to pension savers.
-
New board directors for SLMTC
Standard Life Assurance Limited today announces three new board appointments to the Standard Life Master Trust Co Ltd (SLMTC).
-
Standard Life awarded Master Trust Authorisation
Standard Life Assurance Limited today announces it has received authorisation from The Pensions Regulator (TPR) for its two master trusts.