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.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.