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Standard Life invests £30m in platform

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Standard Life has committed to invest £30m in its wrap platform to improve retirement income processes.

It says key priorities include: streamlining the delivering of drawdown and withdrawal management, improved integration with adviser applications and enhanced reporting and alerts for advisers.

Standard Life head of adviser propositions and strategy David Tiller says: “With the increasing degree of uncertainty around the future of some platforms in the market we feel it is important that Standard Life provides a clear demonstration of its commitment to the adviser market.

“Our aim is to increase the capacity of adviser firms to manage sophisticated retirement investment, income and drawdown solutions by at least 50 per cent.

“There are many ambitious adviser businesses out there that can see the opportunity created by pension freedoms. They shouldn’t be held back by their platform technology being configured to support only simple retail accumulation product sales.”

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Case study: administration — managing group life schemes

Our client leads the global market in high-tech electronics manufacturing and digital media. The trustees of the company’s final salary pension scheme insure death-in-service lump sum and dependants’ pension death benefits for active employees, as well as dependants’ pension benefits for deferred members (those who have left service).

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