Standard Life and Life Academy Launch the 'Everyone Needs a Plan' Report

LONDON, December 9, 2010 - Standard Life and Life Academy, the life and retirement planning charity,
have published the report 'Everyone Needs a Plan', to coincide with the
launch of Financial Planning Week.

The report suggests that consumers are in the eye of a financial storm
with only 51% of adults currently saving while 28% actively choose not to
save*.

Authored by Alan Pickering, CBE and chairman of Life Academy, 'Everyone
Needs a Plan' examines the UK savings culture and examines, case by case, the
repercussions of non saving to consumers from all walks of life. It finds
that the penalty for not having a financial plan is not immediately
recognised, but can have long lasting repercussions.

The report makes important recommendations for Government, the financial
services industry, employers and the voluntary sector.

Alan Pickering said: "In 'Everyone Needs a Plan', we partnered with
Standard Life to challenge the view that there is a silver bullet solution
from Westminster that will tackle the savings culture in society. We
deliberately adopted a bottom up approach to better understand, at an
individual level, attitudes to saving. It makes clear the need for a change
in approach to improve our savings culture."

In response to the findings of the report, both Life Academy and Standard
Life are calling for the following changes and recognition to encourage
people to address their attitudes to long term saving:

Simplification of the savings and tax system; ensuring the success of
auto enrolment by changing how the state benefits system interacts with
private saving; sustained investment in financial education at all levels;
recognition that financial literacy is an integral part of planning for life
and this integration leads from financial literacy through financial
inclusion to social inclusion, thus improving outcomes for individuals and
the nation's sense of social cohesion and recognition that individuals need
support to develop their life and financial plans and the support must be
based on simplicity, trust, stability, and the belief that it will pay to
save.

John Lawson, head of pensions policy at Standard Life, said: "The speed
at which the population is ageing has created a dramatic need to shift from a
culture of borrowing to one of saving. 'Everyone needs a plan' makes it clear
that we have to make it both easier for people to save and equip them with
the knowledge and skills to make well informed choices about how and when to
save. We also need to make sure they know where and when to seek financial
advice if they need help developing their savings plan."

To support this generation of under savers, Standard Life has launched a
website which includes tips and tools to help customers plan their financial
future.

About Standard Life:

Standard Life is a leading long term savings and investments company
headquartered in Edinburgh and operating internationally. Established in
1825, Standard Life provides life assurance, annuities
(www.standardlife.co.uk/content/pensions/incomedrawdown.html),
investment bonds
(www.standardlife.co.uk/content/saving/bonds/tailored/tib.html), tax
efficiencies
(www.standardlife.co.uk/content/savings/savings_home.html), pensions
(www.standardlife.co.uk/content/pensions/pensions_home.html),
including self invested personal pensions (SIPP)
(www.standardlife.co.uk/content/pensions/SIPP/sipp_index.html),
company pensions and employer pensions, and investment management to over
6.5 million customers worldwide.

Standard Life provides flexibility and support to build its customers'
confidence in their future wealth.

Standard Life operates in the United Kingdom, Europe, North America and
Asia Pacific, and globally with Standard Life Investments.

Notes to Editors:

* Standard Life Savings & Investments Index, wave 20, April 2010.

For a copy of the report please go to www.standardlife.com/media.

    Press Contact:

    Paul Keeble
    Senior Media Affairs Manager
    Standard Life plc
    Level 34
    30 St Mary Axe
    London
    EC3A 8EP
    +44(0)20-7872-4481
    www.standardlife.com

Paul Keeble, Senior Media Affairs Manager, Standard Life plc, Level 34, 30 St Mary Axe, London, EC3A 8EP, +44(0)20-7872-4481