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Standard Life plc - Annual Report and Accounts 2007
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Remuneration policy

Standard Life believes that our people play a key part in the overall success of our organisation. Because of this, we are committed to providing total remuneration packages that enable us to attract, reward and retain high quality people.

Our overriding remuneration principle is that every Standard Life executive should be rewarded for outstanding performance but not receive a bonus or incentive plan pay out when performance is poor. We aim therefore to provide total remuneration packages which reward superior performance in a way that is consistent with the long-term interests of the policyholders and shareholders. For example, 70% of the total potential remuneration in 2008 for the Group Chief Executive is performance related.

The pay policy described in this report applies to all members of the Standard Life 'Executive Job Family', not just the executive Directors. We believe that all eligible employees should participate in performance related share plans and describe our all-employee share based remuneration in the pages which follow.

We also believe that our remuneration policy reflects our strong commitment to good corporate governance standards.

Remuneration packages for the Group's executive Directors consist of: base salary, participation in the Company's UK flexible benefits scheme, pension provision, short-term annual bonus and participation in a share-based long-term incentive plan. We explain each of these in the following pages.