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Standard Life plc - Annual Report and Accounts 2007
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Directors' remuneration report

This year the Remuneration Committee has reviewed Standard Life's remuneration policy and has made some changes that are described in this report.

The main changes that will apply from 2008 are:

  • Where annual bonuses exceed target payment, half of any above-target bonus will be deferred for two years. The ultimate value to be awarded will depend on Standard Life's share price and dividend performance over this deferral period
  • As well as a return on embedded value performance condition, Long-Term Incentive Plan (LTIP) awards will have a total shareholder return multiplier. This will increase or decrease the level of vesting depending on Standard Life's performance against the FTSE 100 Index
  • The level of vesting at threshold of the LTIP performance target has been significantly reduced.