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The 'safer haven' investment additions were developed following adviser feedback and include Capital Guaranteed Plus1 and two new Fixed Rate Accounts.

All three are available both new and existing customers.

Capital Guaranteed Plus1 is is a capital protected product available over one- and two-year terms. It offers growth opportunities depending on the performance of the FTSE 100, subject to a maximum cap, and guarantees the return of capital on maturity.

The Fixed Rate Accounts offer the flexibility of two different terms: up to six months on a fixed rate of 5.5 per cent gross per annum AER, or up to one year on a fixed rate of 5.65 per cent gross per annum AER. Customers can invest in one or both terms at the same time.

Dave Campbell, director of retirement solutions at Standard Life said: "In the current economic climate we are seeing strong demand for less volatile investments.

"Advisers and their clients have been asking us to introduce safer options within Sipp to which we have reacted positively and swiftly.

"Our absolute return funds are already being used by advisers as part of a diversified portfolio to help preserve capital values, and these new options extend the range of solutions available."