Standard Life members' request for a special general meeting to consider a resolution on demutualisation is invalid according to the company's board. It is not possible for members to direct the board to carry out any particular action by an ordinary resolution unless the regulations are altered first by special resolution.

Standard Life regularly reviews its status and concluded last autumn that the company's interests were best served by retaining its mutual status. Standard Life is not required to pay dividends to shareholders and is therefore able to provide the best possible returns for policyholders, according to a company statement.