Pension News Standard Life Reveals A Day Product Range
01 February 2006
Standard Life has revealed its new pensions product range from A-Day, which demonstrates its ongoing support for advisers in the individual and group pensions markets.
Following the launch of its self-invested personal pensions (Sipp) and its new group Sipp, the company has looked at its pension range and identified which products are most likely to appeal to customers and advisers after the pension simplification takes place on April 6th, dubbed A-Day.
The Standard Life individual personal pensions range, which includes Sipp, personal pension (flex) and individual stakeholder, remains unchanged.
However, Standard Life will cease to offer its executive personal pension (EPP) after A-Day.
The company will keep its current range of group pension products, which will all be fully adaptable to the new pension environment.
This range includes the small self-administered scheme, the retirement account plan and the group additional voluntary contribution scheme.
“We believe that our Sipp and group Sipp will be ideal for individual and employers who want to take advantage of the opportunities that will exist in the new pensions environment,” said Abigail Morrison, marketing manager for pensions at Standard Life.
“The introduction of a single pensions tax regime, along with the removal of benefit and contribution limits means that some types of contract will be very limited appeal in the future.”