• Funds
  • Important information

With Profits

This is where you'll find our Understanding With Profits guides and Principles and Practices of Financial Management, which describe how we manage our UK with profits business. You can also see our most recent reports to with profits policyholders, with profits investment reports and bonus information.

Understanding With Profits Guides

To find out more about with profits investments you should read the 'Understanding With Profits' guide for your type of plan. These guides are also known as Consumer-friendly PPFMs or CFPPFMs.

Does your plan have with profits units? If so:

ISA key featuresThis is the one to read if you do NOT have a Stakeholder plan

 Understanding With Profits 1NB (pdf | 225kb)

ISA key featuresThis is the one to read if you have a Stakeholder pension plan that started before 10 July 2006

 Understanding With Profits 2 (pdf | 225kb)

ISA key featuresThis is the one to read if you have a Stakeholder pension plan that started on or after 10 July 2006

 Understanding With Profits 2a (pdf | 225kb)

If you have a mortgage endowment or other conventional with profits plan read this

If you have a With Profits Pension Annuity read this

If you are a pension scheme trustee and have a with profits Group Death in Service or Group Permanent Health Insurance plan or have with profits investments in a Trustee Investment Plan please ask your usual Standard Life contact for a copy of the Understanding With Profits Booklet for your plan.


Principles and Practices of Financial Management (PPFMs)

Our PPFMs give a detailed description of how we manage our with profits funds.  The above Understanding With Profits Guides provide a summary of the important PPFM information for different types of plan.

There are two PPFMs for our UK business:

ISA key featuresThe UK Smoothed Managed With Profits Fund PPFM (for Stakeholder plans that started on or after 10 July 2006)

 UK Smoothed Managed With Profits Fund (PPFM) (pdf | 225kb)

ISA key featuresThe Heritage With Profits Fund PPFM (for all other plans)

 Heritage With Profits Fund PPFM (pdf | 225kb)


Annual report to policyholders and statement from the With Profits Actuary

Here are our latest reports to UK with profits policyholders on the operation of our with profits business.

ISA key featuresUK Smoothed Managed With Profits Fund (for Stakeholder plans that started on or after 10 July 2006)

 Annual Report - UK Smoothed Managed With Profits Fund (pdf | 225kb)

ISA key featuresHeritage With Profits Fund (for all other plans)

 Annual Report - Heritage With Profits Fund (pdf | 225kb)


Latest quarterly investment reports

For information on the asset mixes of our with profits funds and how they have performed see:

UK Smoothed With Profits FundPost July 2006 Stakeholder Pensions

 UK Smoothed With Profits Fund (pdf | 225kb)


Bonus information

ISA key featuresRegular bonus rates: Life

 Regular Bonus Rates - Life (pdf | 225kb)

ISA key featuresRegular bonus rates: Pensions

 Regular Bonus Rates - Pensions (pdf | 225kb)


With profits unit prices

We don’t publish unit prices for any of our with profits funds. On its own, the price is unlikely to provide a full and fair view of what a with profits investment is worth. This is because of the effects on plan values of any

  • smoothing
  • inherited estate top-up
  • final bonus
  • unit price reduction

These vary from one plan to another depending on when payments were made.

Other useful information about with profits

ISA key featuresHeritage With Profits Fund Inherited Estate

 Heritage With Profits Fund - Inherited Estate. (pdf | 225kb)