• Press releases
  • Standard Life lowers Pricing and overhauls Portal in ongoing adviser channel focus
  • Lower pricing for flagship Active Money Personal Pension (AMPP) and SIPPs
  • Digital portal upgrade set to improve user experience
  • Summer 2022 launch of standardlife.co.uk/adviser

 

Standard Life is introducing a series of upgrades to its pension pricing and revamping its digital services as part of strategic plans to rejuvenate proposition and service capability for financial advisers.

Commenting on developments, Chris Hudson, Managing Director of Retail Intermediary at Standard Life said: "Improving our pension pricing and modernising our online presence is part of our renewed commitment to the adviser marketplace. We are looking to make improvements in all aspects of our offering and show our long-term commitment to advisers by improving their ability to do business with us. This is the start of that process and part of our strategy to invest in the support we provide to advisers to meet the needs of their clients." 

Update to AMPP / SIPP Pricing

Standard Life is introducing a series of price reductions on its flagship AMPP and SIPP personal pensions resulting in reduced costs, with most customers set to benefit from a 0.5% discount. The discounts apply immediately and will benefit new and existing customers holding insured funds in AMPP and SIPP plans, and with pots of between £25,000 and £500,000. A typical SIPP client invested in the Standard Life Sustainable Focus 3 pension fund, with a plan value of £100,000 will see their effective charge reduce by £200 per annum.

Standard Life Sustainable Focus 3 pension fund, with a plan value of £100,000
Standard Life Sustainable Focus 3 Current total effective charge New total effective charge
  0.69% 0.49%
Total Effective Charge £690 £490

The value of investments can go down as well as up and may be worth less than originally invested

These personal pension propositions have been designed with flexibility in mind providing investors with a comprehensive range of more than 300 insured funds, and for Retail SIPP additional options including mutual funds, stocks and shares, deposit accounts, commercial property and DFMs.

Payment options range from yearly to monthly or on an ad-hoc basis while at retirement customers can choose from a range of flexible, income drawdown options including drip-feed and tailored drawdown. The proposition is also digitally enabled, and the functionality can be managed using an online dashboard. Both SIPP and AMPP also accept transfers from other pension plans.

Digital Switch to standardlife.co.uk/adviser

Continuing its investment in proposition and servicing capability, Standard Life will shortly introduce a series of digital upgrades with the launch of standardlife.co.uk/adviser. It will gradually switch away from the current portal, Adviserzone, which will be retired by early 2023.

Standardlife.co.uk/adviser will improve the user experience for advisers, reflecting current developments in IT and technology and represents a step-up from Adviserzone. The adviser portal will be supported by a new technology platform that will future proof the user experience and allow Standard Life to more easily introduce upgrades and enhancements that meet the evolving needs of advisers and their clients.

In the first phase of development, the new digital portal will introduce web friendly functionality such as a helpful filtering system for Literature, a new Fund Filter design and improved user journeys into key online services, while being quicker and easier to use.

Standard Life’s digital upgrade follows extensive research with advisers to test concepts and user functionality. More developments are planned over the next year to update tools and calculators to further improve advisers’ experience and ability to transact online.

ENDS

Enquiries

Sarah Muir
Lansons
07870 397538
sarahm@lansons.com
 
James Merrick
Standard Life
077139 18949
james_merrick@standardlife.com
 

Notes to editors

Fund charges for Standard Life AMPP & SIPP customers
Value Tier Current Effective Charge % New Effective Charge %
£0 to £25k 0.69% 0.69%
£25k to £250k 0.69% 0.49%
£250k to £500k 0.59% 0.49%
£500k+ 0.49% 0.49%

The value of investments can go down as well as up and may be worth less than originally invested

About Standard Life 
Standard Life is a brand that has been trusted to look after peoples’ life savings for nearly 200 years.
Today it proudly serves millions of customers who come to Standard Life directly, through advisers and through their employers’ pension scheme.
Standard Life is part of Phoenix Group, the largest long-term savings and retirement business in the UK. We’re proud to be building on nearly 200 years of Standard Life heritage together.
Our products include a variety of Pensions, Bonds and Retirement options to suit people’s needs, helping our customers to invest and save for their future. We’re proud to offer a leading range of sustainable and responsible investment options.
We products include a variety of Pensions, Bonds and Retirement options to suit people’s needs, helping our customers to invest and save for their future. We’re proud to offer a leading range of sustainable and responsible investment options.
The value of investments can go down as well as up, and may be worth less than originally invested.

 

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