On 27 October 2023 Standard Life* business transferred to Phoenix Life Limited, another company in Phoenix Group.
At the same time Phoenix Life Assurance Limited also transferred to Phoenix Life Limited.
All of these companies are part of Phoenix Group, the UK’s largest long-term savings and retirement business.
What this means for our customers
Standard Life has been part of Phoenix Group since 2018. On 27 October 2023 policies and plans from Standard Life* transferred to Phoenix Life Limited, which is also part of Phoenix Group. Phoenix Life Limited is now your provider and responsible for your policy or plan. Don’t worry, the transfer has not made any changes to the Standard Life brand or experience you know us for.
We followed a rigorous process which included consulting with the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), Central Bank of Ireland (CBI), and an Independent Expert. Our transfer proposals were approved by the High Court in London and the Court of Session in Edinburgh as well as the Royal Courts of Jersey and Guernsey.
*Standard Life refers to Standard Life Assurance Limited and Standard Life Pension Funds Limited.
There's no change to the Standard Life experience you know
The timeline we followed
Following the hearing on 5 and 6 October, the High Court in London approved the transfer and associated changes to a number of previous Phoenix Life Limited and Phoenix Life Assurance Limited transfer schemes. On 3 October the Court of Session in Edinburgh approved changes to the terms of three previous Standard Life transfer schemes. The transfer took place on 27 October 2023.
The Royal Court of Jersey and Royal Court of Guernsey also approved the relevant schemes in Jersey and Guernsey. The transfer of policies under these schemes also took place on 27 October 2023.
May - August 2023
Customers received a notification letter.
We received approval from the High Court and Court of Session.
Read more about the courts
27 October 2023
Policies and plans transferred to Phoenix Life Limited.
Standard Life International (SL Intl) Customers
SL Intl will continue to be the provider of policies for our Irish, German and Austrian customers with a SL Intl policy. Information specific to SL Intl customers with a policy reinsured to a Standard Life fund can be found at www.standardlife.de/ukbusinesstransfer, www.standardlife.at/ukbusinesstransfer or www.standardlife.ie/ukbusinesstransfer