Royal London went into the black in 2009, with the group boosted by pensions sales and a strong take-up of its Ascentric wrap.
Profit after tax (EEV basis) was £404m for last year compared to a loss of £762m in 2008 although operating profit was down at £171m compared to £213m in 2008. The group's profit from new life, pensions...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter