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

End of Harvest Season Results in Job Losses in Farming Sector
WalletHub Released a List of Best Deals on Black Friday
Massachusetts Regulators to Decide on Issue of Limiting time and Money for Gambl
More People Are Expected to Travel by Road during the Thanksgiving Holiday, due
Sotheby’s CEO, William Ruprecht to Step Down
Alibaba does well in the American Bond Market
Target's Holiday Season Sales Expected to Fetch Good Results
Uber’s New York Office Executive Investigated for Spying on Journalist
China’s Factory Gauge in November Dropped to a Six Month Low
Fed Debate Continues Regarding Tightening of Pace After the First Rate Increase
San Diego Gives Green Signal to Landmark Water Recycling Plans
NHTSA Urges Takata to Recall Faulty Air-Bags Nationwide