We're here to help

We know the pandemic has caused changes in our customers’ financial situations, with many people having to make difficult decisions about cutting back on their outgoings.

We’re here to help you understand the choices you have with your Standard Life plan, so you feel able to make the best decisions based on your circumstances.

Our people are trained to treat every customer individually, and assess how we can help them. Here are some of the ways we’ve been helping our customers in recent months:

  • We’ve looked at options for customers to take a short-term break from paying into their plans (a payment holiday) to give them time to sort out their finances
  • We’ve paid out lump sums from plans quickly to help eligible customers pay urgent bills
  • We’ve encouraged customers to nominate a beneficiary who they would like to get the proceeds from their pension plan if something happened to them – giving them peace of mind
  • We’ve listened to the questions customers have been asking during this uncertain time and produced information to help answer these and regular coronavirus support articles
  • Where appropriate, we’ve given customers information about other organisations and support services that can help them – see the Other support section below for more on some of these

How to get in touch with us

Tips to help you keep your finances on track

Everyone’s circumstances are different, but here are some simple steps you can take if you have concerns about your finances.

  • Housekeeping – make sure you know what savings and investments you have and who to contact for information about them. You may have options that you didn’t know about
  • Plan ahead and budget – get a realistic picture of your income and outgoings, and what additional expenses you might have over the next few months. Review your current expenditure, consider cancelling any unnecessary spending, and look at renegotiating existing contracts on things like TV, phones and broadband to free up extra money. The Money Advice Service has a useful budget planner tool that can help with this
  • Review existing credit arrangements – for example if you’re paying a high rate of interest on credit card repayments, check for balance transfer offers. And if you’re struggling to make repayments on a mortgage or other loan, talk to your provider to find out what they can do to help until you’re in a better financial position. You may be able to extend the terms of your loan, adjust repayment amounts or take a payment holiday
  • Review your utility provider – shop around for better tariffs, or talk to your provider about payment plans if you’re finding it difficult to pay your bill
  • Check if you’re eligible for government support – if you’re on a low income, not in work or unable to work, you may be entitled to claim universal credit. You can find out about other government support that’s available here
  • Be wary of scams – criminals are using fears of coronavirus to scam people online and over the phone. Find out more and learn how to spot a scam in our guide

Other support

Impartial guidance on pensions and investments

  • The Pensions Advisory Service website has a lot of helpful and impartial information about the impact of coronavirus on pensions and investments. The service also offers a helpline and webchat if you want to speak to someone about your own situation
  • If you’re over 50, you can book a free Pension Wise appointment to discuss your retirement options

Financial advice

  • You might want to speak to a financial adviser to get a personal recommendation based on your circumstances. You can find an independent financial adviser in your area on the Unbiased website or you can find out about financial advice from Standard Life here. There’s likely to be a charge for financial advice

Help with planning and managing your finances

  • The Money Advice Service is a great source of free and impartial advice, guidance, tools and calculators to help you plan and track your finances. As well as online support, you can contact them by phone on 0800 138 7777, Monday to Friday, 8am-6pm
  • Sign up to email newsletters like the one from Money Savings Expert to receive regular savings tips

Help with debt problems

  • The National Debt Line is a confidential debt advice service for people in England, Wales and Scotland
  • Step Change Debt Charity is a comprehensive debt advice service which aims to help people with debt problems take back control of their finances and their lives
  • UK Citizens Debt Advice can help create plans to reduce or consolidate debt payments

Mental health support

  • With everything going on, it’s more important than ever to pay attention to your mental health. The NHS has lots of information and resources on how to cope with money worries