Royal London

Life, pensions and investment company Royal London is seeking to provide its non-advised retirees with access to independent advice "at low cost" in the wake of the Budget pension freedoms.

Royal London has reported a 45% slump in pre-tax profit in H1, pointing to regulatory charges as a key contributor, while its wrap platform Ascentric saw new business slide 20%.

Royal London has launched an annuity shopping around service to assist customers looking to buy a guaranteed income for life at the best rates.

Jon Taylor, head of the former Co-op life insurance business, is to replace Hugo Thorman as managing director of platform Ascentric.

Royal London has said it will continue to pay adviser commission on its workplace pension schemes - currently branded Scottish Life - until 2016.

The Co-operative Bank has received a £100m cash injection from its former parent as part of attempts to fill a £1.5bn black hole.

In this week's Retirement Planner news round-up we highlight five key stories you might have missed over the past seven days.

Royal London new life and pensions business was up 18% to £989m in the first quarter of the year, with group pensions benefitting significantly from auto-enrolment.

The promise of guidance at retirement "does not go far enough" and a new form of retirement-focused advice must be created by the regulator, according to Royal London.

Royal London is embarking on its first television advertising campaign in over a decade in order push it's direct to consumer (D2C) offering to the public.