UK - Insurance giant Aviva is to slash the costs of its UK operations after falling stock markets and economic uncertainty saw its sales of life and pensions products drop by 22%.
Chief executive Richard Harvey warned that “challenging market conditions” were set to persist throughout this year, noting that the firm was focused on cutting costs and raising revenues.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers