Standard Life to start £5m charitable trust
19 May 2009
Financial firm
Standard Life has announced that it is to create a charitable trust
this year with a cash injection of £5 million.
Most of the money will come from the company's unclaimed assets
trust, while the remainder will come from funds left over after a
change to shareholder cash dividend payments.
The unclaimed cash will become available to the firm for general
corporate purposes when it expires on 9 July 2016.
Standard Life chairman Gerry Grimstone told Investment Week: "I
was delighted to be able to announce the proposed creation of the
Standard Life Charitable Trust.
"This will ensure that Standard Life is at the forefront of
corporate responsibility and community investment in all of the
markets in which we operate."
Meanwhile, the government announced last week on 13 May that its
Future Jobs Fund is aiming to create 15,000 jobs in the third
sector.
Communities secretary Hazel Blears and work and pensions
secretary James Purnell have both called for ten per cent of the
Future Jobs Fund's 150,000 job creation target to be supported by
charitable organisations by 2011.
© Adfero Ltd
