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

Professor writes ‘prank’ physics paper using iOS autocomplete
Twitter plans to shrink its workforce by about 8%
Elon Musk talks about SpaceX’s plans to test ITS’ huge fuel tank at sea
Hackers cut access to some of the world's best known websites on Friday
Dinosaur bones found in Alaska’s Denali National Park
Californians to vote on marijuana legalization measure next month
Microsoft posts $20.5B revenue for July-September 2016 quarter
Tesla is equipping its vehicles with hardware required to make them fully self-d
Orbital’s Antares rocket returns to flight with successful cargo launch
Twitter Would Need New Strategy for Growth as Salesforce Walks Out of Deal
Verizon versions of Google Pixel will get all updates “simultaneously” with non-
Samsung Galaxy Note 7 handsets banned from airline flights in US