What is a third-party mandate?
A third-party mandate allows you to ask someone you trust to receive information from Standard Life on your behalf. This could be a family member, friend, neighbour, local authority, charity, or carer.
You must be able to make decisions for yourself to appoint a third-party mandate. Whilst your trusted person can receive information and speak to us on your behalf, they cannot make decisions for you.
The person you choose will be able to communicate with us about any information relating to your relationship and products with Standard Life. For example, they could talk to us about:
- How much is in your pension
- Where your pension is invested
- Your investment options
A third-party mandate is only in place for one year, after which you’d need to renew it. You can cancel at any time before that.
It isn’t a long-term solution – and if you lose your ability to make decisions for yourself, your third-party mandate will no longer be valid.
How to set up a third-party mandate
To set up a third-party mandate, you must have a valid UK passport and be living in the UK.
If you have an Active Money Personal Pension (AMPP) or Self-Invested Personal Pension (SIPP), you can call us on:
If you have any other products, you can call us on:
0800 634 7482
Or
Write to us at:
Standard Life House
30 Lothian Road
Edinburgh
EH1 2DH
What is a Power of Attorney?
A Power of Attorney is a legal document that allows someone you trust to make decisions around your finances and care on your behalf, if you’re no longer able to do so yourself.
Despite what many people may think, your next of kin has no legal right to take care of these important decisions for you. Having a Power of Attorney provides those you trust with that authority – and gives everyone certainty around who takes responsibility.
Who can I choose as a Power of Attorney?
You can choose a friend, family member, or professional such as a solicitor to be your Power of Attorney.
They need to be over the age of 18, or 16 in Scotland, and have mental capacity. They also can’t be classed as bankrupt. If you choose to have more than one Power of Attorney, you’ll need to make it clear if you want them to make decisions together or separately.
What happens if I don’t have a Power of Attorney?
Without a Power of Attorney in place, those around you would need to go through a court process to take care of decisions on your behalf. This could be a long and expensive process.
It’s important to set up a Power of Attorney while you have the mental capacity to do so. If you become unwell or have an accident, and you’re no longer able to make decisions yourself, it’s too late to set one up.
How to set up a Power of Attorney
Setting up a Power of Attorney is more straightforward – and less expensive – than you may think. You may be able to do it yourself online. You can also get support from a solicitor or charity.
There are two types of Power of Attorney:
- Health and welfare (known as Welfare Power of Attorney in Scotland)
- Property and financial affairs (known as Continuing Power of Attorney in Scotland)
Whether you’re setting up one or both types of Power of Attorney, there are three key steps you need to take:
-
Step 1: Choose your attorney(s)
You can choose to have more than one if you wish. -
Step 2: Fill in the forms (or have your Power of Attorney document prepared for you
You’ll need to do this to appoint the person (or people) you’ve chosen as your attorney. -
Step 3: Register your Power of Attorney
Make things official. The process can differ depending on whether you live in
How much does it cost to set up a Power of Attorney?
In England and Wales, it costs £92 for registering either type of Power of Attorney (excluding solicitors fees if you use one). If you set one up for both health and for financial affairs, it would cost £164 in total.
In Scotland, it costs £99 whether you set up one or both types of Power of Attorney.
In Northern Ireland, it costs £189 to set up what's known as an Enduring Power of Attorney.
These costs don't include solicitors fees, if you use one.
If you're on a low income or some means-tested benefits, you may qualify for a discount or exemption on fees.
How long does it take to register a Power of Attorney?
The time for processing Power of Attorneys can vary. Find out more about processing times in:
In Northern Ireland, Power of Attorneys are registered with the High Court (Office of Care and Protection).
How to allow Standard Life to talk to your Power of Attorney about your pension
You may need your Power of Attorney to support you with making decisions about your Standard Life pension or products in the future.
To allow us to speak to your Power of Attorney, you’ll need to send us the original Power of Attorney document or an original certified copy. We’re not able to accept photocopies.
A certified copy must be printed and signed by the person who has a Standard Life pension or product (i.e. you). If you’re unable to do so, we can accept one of the following to sign on your behalf:
- A solicitor
- A notary public
- A stockbroker
- A chartered legal executive
You’ll need to send the documents via post to our address:
Standard Life House
30 Lothian Road
Edinburgh
EH1 2DH
We can also verify Lasting Powers of Attorney online, as long as it was granted on or after 1 January 2016. You will need to provide us with the 13 character access code which can be obtained online: View a lasting power of attorney
-
Why you should know about Power of Attorney
The future is unpredictable. Find out why having a Power of Attorney can provide more clarity and reassurance.
-
Five common Power of Attorney myths you should know about
We debunk the myths that could be stopping people from putting in place this important safeguard.
-
More information on Power of Attorney