News

Aegon will transfer the operation of its defined benefit pension schemes to JLT Benefit Solutions under a partnership agreement which will see 100 staff transferred from the life company.

Henderson reported net outflows of £1.1bn in Q3, with net retail outflows making up £296m of the total.

Lloyds Banking Group has set aside an extra £1bn to cover costs relating to PPI mis-selling and has announced a £583m loss for the first nine months of the year.

High street bank staff who missed sales targets were named and shamed, forced to work late and threatened with the sack, Unite the union has said.

Barclays has been fined $470m (£293m) by US regulators after having been found to have manipulated the American electricity market.

Legal & General (L&G) has reported increased pension assets of £429m in the third quarter as a result of auto-enrolment.

LV= has launched an online calculator for advisers to work out potential commission loss in the run up to G-Day.

Fast food giant McDonalds will use the National Employment Savings Trust (NEST) for 35,000 hourly-paid workers as part of a two-tier auto-enrolment solution.

Prudential is working with the National Employment Savings Trust (NEST) and independent multi-employer scheme NOW: Pensions to provide auto-enrolment packages for its clients.

The government has given its backing to the Money Advice Service (MAS), in spite of growing discontent with the industry-funded operation within Westminster.