Strategic lifestyle profiles

What are they?

Strategic lifestyle profiles (SLPs) have been designed to make investing for retirement easier.

There are two main stages in the SLPs:

  1. Growth stage - usually when you're more than 10 years from retirement
    Your money will be invested in funds that aim to increase the value of your pension savings over time.
  2. Approaching retirement stage - usually when you're less than 10 years from retirement
    Your pension savings will gradually be moved into carefully selected funds designed to prepare them for how you plan to take your money in the future.

It is important to make sure the retirement date we have for you is correct. You can update it online if you need to.

Remember, as with any investment, the value can go down as well as up and and may be worth less than what was paid in.

SLPs might be a good choice if:

  • You don’t want to select your own funds
  • You want an option where your money is managed on your behalf as you approach retirement
  • You want an option that prepares your pension savings for how you want to take your money when you retire

Choosing your SLP

To find the SLP that's most appropriate for you, follow these simple steps:

  1. Decide how you want to take your money when you retire
  2. Decide how you want your money to be managed
  3. If you've chosen an Active Plus, Passive Plus or MyFolio Managed option, decide which risk level is right for you

1. Choose how you want to take your money

We offer four types of SLPs reflecting the main options you have at retirement:

Universal SLPs - if you want the flexibility to take your money the way you want or if you want to use it to take a flexible income (also known as drawdown)

More about the Universal SLPs

More about the Passive Core Universal SLP

Annuity SLPs - if you want to take your full tax-free lump sum and set up a guaranteed income for life (an annuity) with the rest

More about the Annuity SLPs

Lump Sum SLPs - if you want to take all your money as a lump sum or a series of lump sums

More about the Lump Sum SLPs

Active Retirement SLPs - if you want to use your money to take a flexible income (also known as drawdown) through Standard Life's Active Retirement investment option.

More about the Active Retirement SLPs

If you're not sure how you want to take your retirement income, one of our Universal SLPs may be the most appropriate option. You'll then have the flexibility to take your money the way you want when you retire.

You can easily move into another SLP at any time.

2. Choose how you want your money managed

Active Plus, Passive Plus and MyFolio Managed option

These initially invest in one of our risk-based funds. They give you a choice of risk levels and investment styles, and all include a range of investments, such as stocks and shares (equities), bonds, property and money market instruments. They can also include other specialist investments to give even more diversification, reduce the likelihood of significant ups and downs in value, and help deliver returns.

The funds are managed by a team of investment experts at Aberdeen Standard Investments. With the Active Plus funds, this team can decide how much is in each type of investment to try to take advantage of any market opportunities they’ve identified.

Active Plus funds invest mainly in actively managed Standard Life funds.

Passive Plus funds invest mainly in index-tracking (passive) funds managed by Vanguard Asset Management.

Passive Core option

This initially invests in the Passive Core Pension Fund, which in turn invests in index-tracking (passive) funds.

It mainly includes stocks and shares (equities) from around the world, but may also include bonds, property shares and money market instruments.

3. Choose a risk level you’re comfortable with

Each of the Active Plus, Passive Plus and MyFolio Managed SLPs are designed to closely match a different risk level - I being the lowest risk and V the highest. So you need to work out how much risk you’re comfortable taking.

We don't offer any risk level I Universal or Active Retirement SLPs as we don't believe they're appropriate if you're only prepared to take a small amount of risk with your investments. If you feel this is the right risk level for you, you can choose one of our risk level I Annuity or Lump Sum SLPs instead. 

If you're not comfortable taking any investment risk at all, then SLPs aren't a suitable option for you.

If you’re not sure what your attitude to investment risk is, you can use our risk questionnaire to help you. 

Dial representing lower risk level

Risk level I - lower risk

This option is designed for people who are conservative with their investments. They prefer taking a small amount of risk to achieve modest or relatively stable returns. They accept there may be some short term periods of fluctuation in value.

 

 


 

Dial representing low to medium risk level

Risk level II - lower to medium risk

This option is designed for people who are relatively cautious with their investments. They want to try to achieve a reasonable return, and are prepared to accept some risk in doing so. Typically these portfolios will exhibit relatively modest yet frequent fluctuations in value.

Dial representing medium risk level

Risk level III - medium risk

This option is designed for people with a balanced attitude to risk. They don’t seek risky investments but don’t avoid them either. They are prepared to accept fluctuations in the value of their investments to try and achieve better long term returns. Their investments may be subject to frequent and at times significant fluctuations in value.

 

 


Dial representing medium to higher risk level

Risk level IV - medium to higher risk

This option is designed for people who are relatively comfortable with investment risk. They aim for higher long term returns and understand that this can also mean some sustained periods of poorer performance. They are prepared to accept significant fluctuations in value to try and achieve better long term returns.

 

 

 


Dial representing higher risk levelRisk level V - higher risk

This option is designed for people who are very comfortable with investment risk. They aim for high long term investment returns and do not overly worry about periods of poorer performance in the short to medium term. Ordinarily these portfolios can be subject to the full extent and frequency of stock market fluctuations.

 

 

 


As well as thinking about how you feel about investment risk, you should also consider how much risk you're able to take with your money, bearing in mind your other financial commitments and personal circumstances.

 

So, what next?

Get more information

You can access more information on our funds, including details of past performance and fund fact sheets, on Standard Life's website.

Need help choosing funds?

We’ve got the information to help you work out if your money is in the right place.

Check or change your investments

 

It's easy to find out where your money is invested - and to make changes to your investments.

Important documents

To help you make an informed decision we've provided you with important information that you should read. You should print or save copies of these documents for future reference.

Read this guide for more information about the Fenner Retirement Plan.

Member guide  (PDF, 374KB)

Read this outline for more information about the Standard Life Master Trust.

An outline of your employer's plan  (PDF, 264KB)

Complete this form to nominate beneficiaries for a lump sum death benefit payment.

Instruction for payment of the lump sum death benefit  (PDF, 87KB)

This summary is to be read along with the Member outline document.

Plan summary (PDF, 59KB)

Read this guide for more information and the tax benefits and tax charges which can apply.

Information about tax relief, limits and your pension (PDF, 190KB)

This document provides you with more information on how you can take money from your pension flexibly. For more information on the other options available please see your Member Guide above.

How Drawdown Works (PDF, 211KB)

Read this guide for more information on choosing your investment options if you decide to take money from your pension flexibly.

Choosing investment options for a flexible income (PDF, 119KB)


Risk is only one factor you must consider. Read on for more information about the other factors

The questionnaire will help decide your investment style but it is important to understand that there are some limitations.

Understanding the limits of the risk test:

  • Education, not advice - this tool is a guide for illustrative purposes only
  • Limits - this tool doesn't look at other factors, such as your stage of life, your financial goals or the size of financial loss you are able to withstand
  • Think bigger - risk is just one of the things you need to consider when you're making investment decisions. For example, the term of your investment and whether you might want to access your investments before the end of this term are also important
  • Talk to an expert - it's always best to get financial advice before making any financial decisions