Supporting saving

We use our knowledge and experience to support people to manage their money and help them save for the future they want.  We want to be the savings provider of choice for people

Saving graphic

Our customers and clients range from trustees of pension funds and members of institutions who are looking to meet future liabilities with the best performance return possible, to young savers being enrolled for the first time in a workplace pension scheme or setting up an ISA.

We offer products and services designed to meet our customers' and clients' needs, with pricing that is fair and transparent. We also look to build meaningful, long term customer relationships by providing them with financial knowledge and education to help them achieve their ambitions and gain financial freedom.

What are we doing?

Financial know how

Clear, informative and useful communications are key to helping create long-term customer relationships.

  • We've run education and engagement campaigns with our customers to help them understand and plan for their future goals following some big changes to pensions and savings regulations in the UK.
  • In Ireland we launched The New You, a guide packed with hints and tips on staying healthy, happy and financing life after retirement.
  • Our MoneyPlus blog gives our customers useful insight into our products and news relevant to our industry which may impact their savings.

Insight

Insight helps us understand our customers' and clients' needs and how our products and services can help them achieve their ambitions.

  • We redeveloped our UK retail website based on customer feedback. Now customers can apply for an ISA in less than five minutes, buy a pension or consolidate existing pension plans. Take a look.
  • To keep improving what we do, we measure how well we are performing for our customers using a range of measures including whether customers would recommend us to their friends and family.
  • Standard Life Investments' annual client survey provided insight from around 750 clients globally. This included 40 face-to-face and telephone interviews to find out how they feel about the services we provide. We also use studies by academics and research institutions we have established relationships with, to find out more about attitudes and trends among customers and clients.

Transparency

We want to ensure our pricing is transparent and fair so that customers only pay for the services they use and understand what they are going to pay from the out set.

  • As a response to adviser and customer insight, we introduced flexible and clear pricing across our Synergy product range in Ireland.
  • In the UK, we show charges as 'pounds and pence' on workplace pensions annual statements rather than percentages. That way, our customer can see the exact costs, instead of having to work it out.
  • Our savings website clearly shows our charges for each product. Take a look at our SIPP to get a feel for this.

The right products and services

We want to provide the right products to meet our customers' and clients' needs.

  • We've been working to make it easier for companies to set up pension schemes quickly and efficiently. Our 'Good to Go' proposition aims to help smaller companies set up fully-compliant workplace pension schemes. They can be online and running in just six minutes.
  • We're constantly innovating our digital offering based on our customers' feedback. Our app allows our customers to take out a Stocks and Shares ISA and top it up with as little as £10. They can use it top up their pensions too. We also have a set of online calculators and guides, to help our customers work out how they might like to save. Take a look at our ISA calculator.

Our Key Performance Indicators

Net promoter score
In the last year our UK brand Net Promoter Score, measured by an independent survey, has decreased by 11.

 

Net promoter score


In 2016 we received 7,576 complaints from our customers (2015: 7,516 complaints) which averages 17.8 complaints per 10,000 customers (2015 : 18.5). 3% of these complaints went to the Financial Ombudsman Service (FOS) and, of these, the FOS was in agreement with our decision in 77% of complaint cases against an industry average of 70%.