Standard Life

One of Britain's largest sellers of investment products is preparing to float on the stock market in a move which could net each of its two founders a £240m fortune, says the Sunday Times .

The government has announced regulations relating to the calculation of transfer values for defined benefit schemes will not come into force until April 2008.

Regulations setting out a scheme specific approach to calculating defined benefit pension transfers will not stop employers offering members ‘encouragements' to transfer out of the scheme.

John Hutton, Secretary of State for Work and Pensions, has effectively quashed suggestions of a u-turn on the removal of the restrictions relating to protected rights.

Plans to provide national generic advice to boost financial capability will need to be supported by more than the £50m announced earlier this week, suggests Standard Life.

Another two or three well-known providers are expected to soon join the collaboration exercise just announced by Standard Life and Friends Provident in the area of wrap platforms.

James Purnell, Minister for Pensions Reform, has denied personal accounts will be operated on an uneven playing field, despite admitting the cost of preparing personal accounts will be borne by the taxpayer.

Friends Provident and Standard Life will collaborate to share legacy information about clients' existing investment and pensions business on their respective wrap platforms.

Britons have lost £31.65bn in wages through illness and injury, with an average loss of £5,320 per person, according to research from Standard Life.

Standard Life has entered into a single-tie arrangement with Summit Financial Services to provide life insurance to climbers in the Lake District.