The government wants people to save for their retirement. But it realises that people might not want to commit to saving in a pension that can't be touched for some years. So to encourage people to save, it gives tax relief on your pension contributions.
As an example, if you invest £80 a month, the taxman currently adds £20 - making £100 in total. This happens automatically.
If you're a higher or additional rate taxpayer, you may qualify for extra tax relief. If this is the case we'll claim the first 20% tax relief for you and add it to your plan. You'll need to claim the additional tax relief through your tax return.
Tax relief may change. Its value depends on your individual circumstances. The information provided here is based on our understanding of current law and HM Revenue & Customs practice.
Relying on your property to fund your retirement income could be risky.
For a start, to release any cash you would need to move home and downsize. This could involve a lot of cost, such as paying stamp duty. Another alternative is equity release, which could prove an expensive way to raise the funds you need.
And having all your investments in one asset, a house, is risky. If your money is tied up in a house, you are at the mercy of the property market when you need to sell.
We normally send you a note at the end of the tax year about how much income you've received. If you can't find this or haven't received it then contact us and we can give you the information you need.
The 50 Plus plan offers guaranteed life insurance for UK residents aged 50 to 80 at the start of the plan.
You pay monthly payments and after the first year it will guarantee you a cash lump sum when you die. You need to continue making your payments and should remember there is no cash in value at any time.
You can choose for your cover to remain the same (level cover) or increase in line with inflation (inflation linked cover).
Level cover With this cover if you made a claim the monthly income LV= would pay you is fixed at the start of your plan and will not change in the future. You should remember that this will mean inflation may reduce the buying power of your monthly income payments over time.
Inflation-linked cover With this cover if you made a claim the monthly income LV= would pay you and the premiums you pay would go up in line with rising prices. The policy terms prevent reducing cover. LV= would therefore either increase or maintain existing levels of cover. LV= measure these increases using the Retail Prices Index (RPI).
Registering for our online services is easy, use our online registration form. We'll send you a unique activation code (by phone, email or text – you can choose which you prefer) to set up your own user ID and password. You'll have instant access to your plan. You can also choose to receive your activation code by post, which will take 7 - 10 days.
To log in click on the ‘Customer login’ button that you can find in the top right-hand corner of every page of www.standardlife.co.uk or go directly to www.standardlife.co.uk/online. Enter your user ID and click on the 'Log in' button.
If you are logging in for the first time, you will be asked for your temporary password and prompted to change this to a password of your choice.We will ask you to set up a user ID and password and ask a few security questions. Your user ID should be between 6-10 characters, password should be a minimum of eight characters and contain at least one uppercase letter, one lowercase letter and one number. Both should be a mix of numbers and letters.
If you have previously logged in to online services, once you have entered your user ID you will be asked to enter three characters from your chosen password.
Remember to keep your password information secure.
If you are logging in with a temporary password you'll be asked to enter the password in full before being asked to change it to something of your own choice. Your new password should be a minimum of eight characters long and contain at least one uppercase letter, one lowercase letter and one number.
We are dedicated to providing you with a secure online service. When you go to the online servicing page, you’ll notice that the internet address in your browser’s address bar changes from http to https. This means that all communications within that site are encrypted.
There are five simple steps you can take to help protect your home computer and allow you to browse the internet more safely.
Step 1. Keep your PC secure
You should ensure you have anti-virus software and a personal firewall installed on your computer and that you are running the most up to date version. Spyware are hidden programs that contain malicious code that can record details of your internet activity. Make sure you’re able to detect and remove any of these programs using anti-virus software and other commercially available products. A firewall can protect your computer from unauthorised access when using the internet.
Step 2. Keep your passwords and PINs secret
Don't give these to anyone, including your family members and friends. If you feel you need to record your PIN (personal identification number) or password somewhere, make a reasonable attempt to disguise it.
Step 3. Beware of spoof emails
Please be aware that Standard Life will never send out emails to existing customers that ask for security details or other confidential information from you. When accessing our online facility, please ensure you login through this website - never go to any internet banking website from a link in an e-mail and then enter personal details. If you receive an email that looks as if it has been sent from Standard Life requesting your Internet security or other confidential details, please do not respond to this or visit any site which the email may link to. You should forward the email to us on email@example.com and delete it.
Step 4. Install patches and security updates
Software companies frequently issue updates (known as a patch) to address security problems discovered in internet browsers and operating systems. You should keep your computer up to date with these by visiting the supplier's website or using update features installed within your existing software.
Step 5. Raise your awareness on safer home computing
The following websites provide further information on safer home computing:
Yes you can get financial advice from Standard Life. We have experts on hand who can help you on the phone. Simply call us on 0845 272 8810. Call charges will vary. Standard Life Direct only advise on, and sell products from subsidiaries of Standard Life plc and some external providers.
Yes – in addition to our corporate fundraising (see 'How much do you donate to charity?' below), our people offer their time and skills through volunteering and charity secondments. Our strategic focus is employability - working with our people and other key stakeholders to deliver sustainable employment and build a future we can all look forward to.
We also support communities by donating time, facilities and other items, like computers and furniture, to schools, charities and other community groups.
Engaging our people with our sustainability activities creates a positive working environment and develops their skills and networks.
Standard Life Assurance Limited is registered in Scotland (SC286833) at Standard Life House, 30 Lothian Road, EdinburghEH1 2DH. Standard Life Assurance Limited is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Standardlife.co.uk features UK and offshore products provided by Standard Life Assurance Limited and other subsidiaries of Standard Life plc. See Legal information for our list of product providers.