Costs and charges information
Regulations require Independent Governance Committees (IGCs) to publish costs and charges information in more detail. This includes the ongoing charges and transaction costs for all the investment funds that Standard Life makes available to its members, as well as sample illustrations showing the effect these charges could have on your pension pot over time.
You can find more information on the costs and charges that apply to your employer arrangement below and in this year’s IGC report.
Costs and charges for individual customers
The tables linked below show the range of costs and charges paid by individual customers.
You’ll see that not all customers pay the same price for the same fund. Costs and charges can vary depending on the fund(s) you’re invested in, the type of policy you have and the terms your employer, or previous employer, agreed with Standard Life.
We’ve shown the charges as percentages so you can compare what you’re paying to what others are paying for the same fund. If you don’t know the percentage you’re paying, you can find out by logging in to your dashboard, or by registering online if you haven’t already.
Member data table - Default
Member data table - Quasi
id
Quasi investment funds are funds which are treated as default investment funds due to the number of customers investing in them.
Member data table - All available funds
id
You can look up the costs and charges that apply to the funds that are available to your employer arrangement. The number that you need to enter will begin with a ‘J’ and this can be found on your annual statement. Please enter the number in the box and click on the search button to see a list of the funds available and the total charges and transaction costs for each fund.
id
The charges shown in the table are the charges that are commonly applied to new members of your employer arrangement at 31 December 2022. The charges shown do not include any large fund discounts or discounts on previous payments that some members of some employer arrangements may benefit from. Where with profit funds are available in your employer arrangement the particular with profit fund(s) you have access to will depend on when you joined your employer arrangement. Please refer to your annual statement and the online dashboard for more details on the charges you are paying. Please contact us if you wish to register to gain access to the online dashboard.
Costs and charges for employer arrangements
These tables show the range of charges applying to employer arrangements.
They don’t focus as much on what you pay as an individual, but they will let employers compare the charges for their arrangement against other employer arrangements. So you might want to encourage your employer to look at this information.
Scheme data table - Default
Scheme data table - Quasi
id
Quasi investment funds are funds which are treated as default investment funds due to the number of customers investing in them.
The costs and charges that apply to all employer arrangements can be found here.
The charges shown in the tables are the charges that commonly applied to new members at 31 December 2022. The charges shown do not include any large fund discounts or discounts on previous payments that some members of some employer arrangements may benefit from. Where with profit funds are available in employer arrangements the particular with profit fund(s) open to a member will depend on when the member joined the employer arrangement.
Example illustrations
The illustrations below show the effect these ongoing charges can have on the value of your pension plan over time.
We want to help you find the information that is as relevant as possible to you. So we’ve chosen the lifestyle profiles where the majority of customers are invested as examples.
We’ve also included a range of ongoing contributions and ages, so you can pick the illustration which is the closest match to your own personal circumstances.
Active Plus III Lifestyle Profile (S3AP) - Now Sustainable Multi Asset (AP10 year) SLP *
Active Plus III Lifestyle Profile (S3AP)
*Note - The underlying funds are the same
Passive Plus III Lifestyle Profile (U3PP) - Now Sustainable Multi Asset (PP10 year) SLP*
* Note - The underlying funds are the same
Balanced Managed II Lifestyle Profile (4BAL)
id
We hope you find this new information useful and we would welcome any views from you. If you would like to find out more information about the IGC, please visit our IGC page.