Life and Pension Firm Shows Rise In Quarterly Earnings Due To Cost Savings

.

Life and Pension Firm Shows Rise In Quarterly Earnings Due To Cost Savings

Recent reports have subjected that there Life and pensions firm Aegon UK managed to show up significant earnings for the quarterly session. One of the reasons enlisted is the cost savings. Original pre-tax income saw an increase from the previous year's figures of £8m in the third quarter to £20m administered during this year.

The firm affirmed that rise was attained regardless of the negative impact of proposed financial rules, which are yet to be effective. The Retail Distribution Review (RDR) will not allow fiscal advisers to charge commission on the products that are sold by them. Rather, by the next year, 2013, they will directly charging from the customers for an advice.

The step is taken in order to bring about a clear image regarding the costs in banking services.

Edinburgh-based Aegon UK said, "Third-quarter earnings were driven by a strong improvement in earnings from pensions. The positive results were partly offset by a £4m "negative effect" on sales as advisers prepare for the RDR".

In a statement, the company asserted that they are continuing to invest in new schemes so as to improve its position further and make things simpler for it to take hold over the future expansion options.


Latest News

Leaked image reveals some features of Google’s ‘Pixel’ handset
Report: Stock conditions for new iPhones at Apple retail stores will improve by
Apple’s new ‘macOS Sierra’ version brings Siri to desktop; unfolds several other
SquareTrade conducts dunk/drop tests on iPhone 7, iPhone 7 Plus, Galaxy Note 7
Samsung sued over exploded Galaxy Note 7 handset
Only 13% US Galaxy Note 7 users have exchanged their potentially explosive hands
Uber’s self-driving cars hit Pittsburg roads under a test program
Phil Schiller: Removal of headphone jack marks Apple’s desire for technological
Samsung, CPSC ask Galaxy Note 7 owners to stop using their handsets
Analyst: iPhone 7 will be packaged with EarPods which use Lightning connector
Spacecom may seek $50M or free flight from SpaceX to cover the cost of now-destr
Alphabet is shifting some Nest engineers to Google