Help your employees plan for retirement

Retirement is being reimagined in positive ways and for many retired people the reality is better than the expectation. The days of the cliff-edge experience are dwindling, and many people now view it more as a process than an event.

However, many people are not confident in their knowledge of pensions and the retirement options available to them. This uncertainty and doubt can curb their ability to make good decisions. That's where we come in. We can help you help your members invest for their future and give them a range of options at retirement.

One of the first steps to doing that is making sure we really understand how people feel about their retirement options. That's not a one-size-fits all job. There is great diversity among our customers and, likely your workforce, in terms of their age, gender, socio-economic position and other factors. That's why we carried out a major study into attitudes towards retirement analysing the expectations and experiences of nearly 5,000 people across five generations and from all walks of life.

Standard Life solutions designed for retirement

We’re continuing to invest in our retirement solutions and support services to make retirement planning easier for your members.

Moneybag

In-scheme drawdown

Our in-scheme drawdown solution allows members to access their benefits within their workplace pension plan, offering:

  • The ability to save and take an income in a single plan
  • Lump sum and regular withdrawals
  • No minimum eligibility limit and no additional charges
  • Retention of any scheme discounts when accessing drawdown
  • The ability to transfer in other pension plans
  • Increased flexibility for your employees

Since retirement is no longer a definite 'hard stop', this enables people to transition from work on their own terms. Members can continue to make pension contributions if they want to continue working and have the advantage of retaining their existing scheme terms.

In-scheme drawdown is currently available on our three main pension plans:

  • Group Flexible Retirement Plan
  • Group Self Invested Pension Plan
  • Master Trust

If you’d like to know more about in-scheme drawdown, please contact us. Or if you’re ready to apply for a new Standard Life pension you can get a quote online.

Moneybag

Investment pathways

Investment Pathways are ready-made options designed to broadly reflect your members’ retirement plans. So your members can be confident they’re invested in a way that better fits how they want to access their pension money.

Our four investment options are designed for members who:

  1. Have no plans to touch their money in the next five years
  2. Are planning to set up a guaranteed income in the next five years
  3. Are planning to take money as a long-term income in the next five years
  4. Are planning to take out all their money in the next five years

The pathway options are designed with a five-year investment timeframe in mind, but your members can change their investment choice at any time.

As with any investment, the value of a pathway can go down as well as up and your members could get back less than they pay in.

If you’d like to know more about our Investment Pathways please contact us. Or if you’re ready to apply for a new Standard Life pension you can get a quote online.

More retirement information

Your employees' retirement options

Get an overview of the different choices your members have once they’re able to access their pension money.

See the different options >

Inclusion in retirement – Are pensions hitting the mark?

Get to know how people think and feel about retirement by understanding different groups of people’s attitudes.

Access our research report >

Want to know more? Contact Standard Life

Whether you already have a pension with us or are thinking about transferring, we’d love to hear from you and answer any questions you have.

Contact us >