Standard Life

Life offices attending yesterday's Treasury Select Committee meeting have been "challenged" to cut the length and complexity of Key Features Documents and develop a "summary box" of a product's risks and rewards.

Standard Life is to close five IFA support offices across the country as part of a £11m cost-cutting exercise, according to internal documents seen by The Scotsman.

Provider Standard Life has launched its bulk data download facility for both group and individual pensions, including valuations, fund allocations and payment details.

Office for National Statistics figures for the UK economy are once again under fire after yet another industry survey showed a gap between what the statisticians are saying about the country and what groups such as the CBI are finding out from their own...

Standard Life yesterday proved yet again that unlisted life company boards must do something pretty awful before any of their proposals are actually voted down by policyholders or members.

Policyholders threatening to hold directors to ransom by not voting for resolution 12 - the Report of the Remuneration Committee on Directors' Remuneration - at today's annual meeting were disappointed by a narrow margin as 57% of members voted in favour....

Standard Life has started its annual meeting, which offers members the first chance to personally grill directors about the ongoing strategic review and plans to demutualise the company by 2006.

BATTLE LINES could be drawn between Standard Life's board of directors and policyholders from next week if customers vote against the boardroom pay, says this morning's Scotsman, as the board does not regard the vote as "binding".

GIVEN THE IMPORTANCE of yesterday's announcement, it is unsurprising the Standard Life demutualisation is dominating the front pages of newspapers and business sections this morning.

Standard Life's decision to put forward the option of demutualisation to its policyholders is being closely watched by Royal London, although the latter maintains the view its competitor's problems are company specific.