DB inflows fall at Royal London as sector-wide trend continues

Royal London largely attributed the £253m fall in life and pensions inflows to a reduced level of defined benefit (DB) transfers, a trend that has been recently reflected in the results of other pension providers and life companies. The group said, however, that the fall in DB transfers had been partly offset by higher workplace pension sales from new entrants to existing schemes and new scheme wins. Unlike previous results, Royal London did not specify how much it had spent on the ongoing re-platforming of its Ascentric investment platform, which is known to have already cost the fir...