The Trustees of the Standard Life Staff Pension Scheme (“the Scheme”) have a responsibility to provide you with the Investment Principles applied to the Scheme and the costs and charges applied to the Scheme’s defined contribution (DC) provision.
The Trustees, in line with regulatory requirements, annually assess the DC service provision aimed at ensuring it delivers value for Scheme members. This looks specifically at the benefits members receive against the charges members pay. You will find further details of our assessment in the Chair Statement.
The Trustees, taking into account the independent value for members assessment carried out by their advisors for the Scheme year ended 31 December 2020, are of the opinion such DC services provides reasonable value for members.
The documents listed in the Information section provide further information on the costs and charges and the impact these may have on your savings. You can also find further information on the Trustees’ investment strategy applied to the whole Scheme in the Statement of Investment Principles.
Information on the costs and charges that apply to the investment options available to you through the Scheme's defined contribution (DC) provisions.
You can see an illustration of the projected future costs and charges, and the impact these could have on your pension savings. We have provided illustrations based on the range of members in the Scheme. Choose one that is closest to your circumstances.
The Trustees are required to share this Statement of Investment Principles to formally set out how they govern the Scheme’s investments. This includes the Trustees' policy on DB asset manager arrangements, including performance expectations and management charge transparency.
The Trustee is required to complete the above Implementation Statement and make available to members. The purpose of this Statement is to set out how, and the extent to which, the Trustee believes their Statement of Investment Principles (‘SIP’) has been followed during the Scheme year. It also sets out the changes made to the SIP during the Scheme year and demonstrates how the Trustee has acted on certain policies within the SIP.