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- Investment plans unveiled for iconic Standard Life brand following purchase by Phoenix Group from abrdn1 in May 2021
- Standard Life brand set to become stronger, more relevant and visible Increased focus on holistic lifetime solutions to support customers living longer lives
- Creating digitally enabled products and services focused on sustainability and responsible investing
Standard Life, part of Phoenix Group, the UK’s largest long-term savings and retirement business, today announces a programme of investment in the iconic brand that has been supporting customers for nearly 200 years.
The purchase of the Standard Life brand in May 2021 from abrdn1 is strategically important to Phoenix Group as it pursues a growth strategy that will see Standard Life increase its presence in a number of key markets – workplace pensions, bulk purchase annuities, lifetime mortgages and retail savings.
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Commenting on today’s announcement, Andy Curran, Chief Executive of Standard Life, part of Phoenix Group, said: “Standard Life is one of the most recognised names in life and pensions and we have ambitious investment plans built on its great heritage. With the capital and financial strength of Phoenix Group, and Standard Life’s extensive expertise in pensions and retirement, our ambition is to create an even more customer centric business with sustainability at its core. Accelerating our proposition innovation is central to this investment, from delivering better retirement income solutions using the strength of our Group balance sheet to further harnessing data and digital technology to provide more timely and relevant information to customers. The investment we are making in our propositions and digital channels will allow us to deliver broader retirement options and make Standard Life relevant to even more customers and advisers now and in the years to come.”
In recognition of the brand’s profile and strength, the Phoenix Bulk Purchase Annuity (BPA) business, and equity release business, will align under the Standard Life brand. In addition, a range of retail Lifetime Mortgage products will be marketed through Standard Life Home Finance, as part of a strategic agreement with Key Group.
Standard Life will also be playing its role in addressing some of the biggest challenges of our time and this includes climate change. As part of Phoenix Group, which has sustainability embedded throughout its businesses, Standard Life is among those leading the way in setting interim targets to ensure its investment portfolios achieve net zero carbon by 2050. Phoenix Group recently announced 2025 and 2030 interim targets as part of its roadmap to net zero by 2050. This will see the carbon emissions of £250bn AUA reducing by at least 50% by 2030.
The look and feel of the Standard Life brand is changing too. A series of subtle changes in brand style are being introduced following extensive research with customers, with an initial brand refresh focusing on modernising the visual identity and tone of voice, and improving digital accessibility.
With further investment planned for the Standard Life brand the ambition is to be at the forefront of retirement saving in the UK through product and service innovation, and a commitment to helping all customers live a life of possibilities.
1(previously Standard Life Aberdeen)
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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 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
Press releases
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Standard Life Appoints Managing Director of Retail Intermediary to New Senior Role
Appointment marks renewed investment, focus and commitment to the intermediary marketplace
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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
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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
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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
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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.
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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.
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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
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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).
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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
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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.
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15bn GBP of assets and 1.5m pension customers to move to sustainable default strategy
Newly evolved sustainable strategies to be embedded for over 1.5 million pension customers as Standard Life announces it is to make a series of changes to its largest default pension fund propositions.
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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.
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PerkinElmer pension scheme buy-in
Standard Life completes 130 million pound full scheme buy-in for 900 PerkinElmer scheme members
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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
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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
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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.
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Standard Life launches Homebuyers Hub
Property ladder boost for Pension Scheme Members as Standard Life launches Homebuyer Hub.
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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
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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.
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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.
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Standard Life expands Responsible Investment range
Standard Life is expanding the range of Responsible Investment funds it offers to pension savers.
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New board directors for SLMTC
Standard Life Assurance Limited today announces three new board appointments to the Standard Life Master Trust Co Ltd (SLMTC).
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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.