UK - Morley Fund Management's half-year profits slumped to £6m, a fall of £8m from last year.
The firm - part of Aviva, the rebranded CGNU - blamed a combination of ailing markets and reduced fees.
The losses come despite Aviva’s assets under management rising to £214bn, up £6bn from the same time last year.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.