Phoenix Group Holdings plc has changed its name to Standard Life plc and has been listed on the London Stock Exchange under the ticker of SDLF.

The firm said the move to Standard Life would support the organic growth strategy of the pensions and savings, and retirement solutions businesses that already trade under the Standard Life brand.

Phoenix Group acquired Standard Life from Aberdeen in 2018, with reports indicating it was planning to switch to the Standard Life brand surfacing last year.

It stated that the name change recognised efforts to simplify the business and supported the group’s ambition to be a leading retirement savings and income business.

Standard Life has set a target to help three million more customers over the next 10 years to take action towards a better retirement.

To hit this target, the firm will aim to provide support and solutions designed to ensure more people are on track for sufficient pension savings and financial security in later life.

This will be evidenced by Standard Life tracking two consumer outcomes: more people are engaged in planning for their retirement, and more people are supported to make better decisions when accessing their pension.

“The move to Standard Life plc supports our vision to be the UK’s leading retirement savings and income business, and demonstrates our commitment to helping customers achieve better outcomes and greater financial security in later life,” commented Standard Life CEO, Andy Briggs.

“We want Standard Life to be the business that people trust to guide their retirement journey.

“Our purpose is helping people secure a life of possibilities, and I am proud to announce our new target, which embodies our belief that everyone’s journey to and through retirement can be better.

“Over the next 10 years, we will help three million more customers take action to achieve better retirement outcomes.

“An extensive consumer brand campaign ‘For the life we live’ has also been launched - a national multi-media campaign featuring TV, radio, newsprint, digital and social advertising.

“It will run for 10 weeks with the aim of strengthening the Standard Life brand at key customer decision points in people’s journey to and through retirement and helping inspire customers to engage with their financial futures.

“Customer brands within the group, including SunLife, Phoenix Life and ReAssure, will continue to invest in customer service and operate as normal. This move will see no change as part of the structure of the group, or the legal entity.”

This article was first published on our sister website, Pensions Age.

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