Standard Life Aberdeen plc and the Phoenix Group’s strategic partnership

What does it mean for you?

Standard Life Aberdeen plc has completed the sale of its UK and European insurance business, Standard Life Assurance Limited, to the Phoenix Group.

The Standard Life brand is almost 200 years old and is one of the most recognised in the UK long-term savings industry. It has a strong reputation built on high levels of service. It will continue to evolve as it is has done many times over our 193 year history. We are committed to supporting employers and helping you achieve your objectives.

Standard Life Aberdeen plc and the Phoenix Group are working together to offer market-leading solutions to employers. Each are responsible for different aspects of the workplace business, with Standard Life Aberdeen plc providing investment management, brand and marketing services, and the Phoenix Group focusing on design and development, policy administration and operational support.

The Standard Life team that supports you at the moment will continue to do so.

Watch as Susan McInnes, CEO of Standard Life Assurance Limited at the Phoenix Group, and Eddy Reynolds, Director - UK Region at Standard Life Aberdeen plc discuss what the strategic partnership means for them and their commitment to the future.

Continuity and stability of Standard Life brand.

  • Standard Life Aberdeen Group retains the brand and licenses it to the Phoenix Group. This continues to give you and your employees reassurance that their long-term life savings are well looked after by a trusted brand.
  • Standard Life Aberdeen plc continues to provide investment, brand and marketing services for Standard Life workplace propositions.
  • Arrangements with bespoke scheme communications and visual identity will not change.

Market leading support and service.

  • The policy and contracts you have in place don’t change. They’re with Standard Life Assurance Limited which is owned by the Phoenix Group.
  • Calls are still answered as Standard Life, communications are branded Standard Life and so are the employee dashboards.
  • The same people will continue to support you; with Standard Life technology.

The same quality products and service for you and your employees.

  • Both Standard Life Aberdeen plc and the Phoenix Group remain committed to ensuring service continuity and to providing the highest levels of service.
  • Your employees' supporting services will continue.
  • We're working together to ensure that our customers continue to enjoy a best in class proposition.

Ensuring robust governance.

  • Beyond our own interest in maintaining an offering that’s value for money, we’ll continue to have the independent challenge of the IGC and the Master Trust Board, as well as our clients.

Platforms and technology.

  • The pension administration platforms we use are Standard Life technology, built by Standard Life Assurance Limited. Ownership of Standard Life Assurance Limited has simply moved to the Phoenix Group.

Shared commitment to innovation and future developments.

  • Standard Life Aberdeen plc and the Phoenix Group are jointly committed to investing in and growing the workplace business. The strategic partnership allows both businesses to focus on supporting you and your employees, including the delivery of the client and employee experience roadmap and our 2020 vision. You can download the latest version (PDF, 65KB).
  • A joint operating forum has been established between Standard Life Aberdeen plc and the Phoenix Group and is responsible for decision making.
  • A wider supporting governance framework facilitates an effective strategic partnership.