Standard Life pensions to include Shariah Fund

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Standard Life pensions to include Shariah Fund

Fri 27th May 2005

Standard Life pensions are to include access to the HSBC Life Amanah Pension Fund, which meets the requirements of Shariah law.

The Shariah fund does not invest in shares of companies whose primary activity involves alcohol, tobacco, pork-related products, weapons and defence, entertainment or conventional financial services.

As of Monday May 30th, the Shariah option will be open to all of Standard Life's new and existing group pension customers.

Iain McLeod, marketing manager, savings & investment, Standard Life, said: "We have been experiencing growing demand for a Shariah compliant fund and are delighted to now offer access to HSBC's Life Amanah Pension Fund through Standard Life pension contracts.

"As the UK population becomes more diverse it is important to recognise different needs and this new fund will open new savings opportunities for over 1.8 million Muslims in the UK alone.

"As pension provision becomes an ever more topical subject this new fund offers the opportunity for wider investment choice for all."

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