Standard Life defends one day annuity quote guarantee

The firm had come under fire from independent financial advisers for guaranteeing annuity quotes for existing pension customers for just one day - as opposed to the 14 day guarantee offered by most other providers. However Standard Life defended its decision. Standard Life head of pensions policy John Lawson said: "For an internal policy, we already have the money, as it does not need to be taken from another provider, and it only takes us one day to process." He added: "Although we may not be offering the same time period as the rest of the market, we have good reasons, such as the a...