The new policy means that every new parent will be entitled to 40 weeks leave on their full pay.
The firm says the policy means that the primary caregiver does not have to share their entitlement and end their parental leave early.
It applies whether the mother gives birth to the baby, the baby is born via surrogacy, or if the child is adopted.
All new parents will be eligible, “regardless of gender, family set-up or how long they have been at the company”, SLA says.
If a baby is born premature, the policy also offers additional leave to cover the period between birth and 37 weeks.
Rose Thomson, chief HR officer at Standard Life Aberdeen, said: “Current arrangements – whether statutory or enhanced – can mean new parents have to make difficult decisions about who can afford to take leave and whether one parent’s time with the child, takes away from the other.
“We think that needs to change.”
“We are a family friendly employer and our new policy represents a potentially life changing opportunity for new parents – whatever their family circumstances.
“We know that our people need to balance their work lives with their personal lives and this new policy is one example of the actions we’re taking to help them maintain that balance.”