PosSol increases retention thresholds; ups minimum commission requirement

The Aegon-owned distribution business has told its 1,600 partners, while it has decided against upping its retention rates, it is increasing ‘retention thresholds’ by £5,000 across the board. This means partners will have to find more income than previously if they want to climb an earnings band and therefore retain a larger chunk of profits. For example, a partner bringing in £61k this year compared with £59k in 2009 would previously have done enough to keep an extra 5% of profits, as they had broken the £60k threshold. But that same partner will now need to write £66k worth of ...